NAMM vs. CONL

Last updated Jun 24, 2026

NAMM (Namib Minerals) is a stock, while CONL (GraniteShares 2x Long COIN Daily ETF) is Leveraged Equities fund actively managed by GraniteShares. Over the past year, NAMM returned -87.17% vs -86.06% for CONL. At a 0.17 correlation, their price movements are largely independent.

Performance

NAMM vs. CONL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Namib Minerals (NAMM) and GraniteShares 2x Long COIN Daily ETF (CONL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAMM achieves a 81.19% return, which is significantly higher than CONL's -65.46% return.

NAMM

• 1D: 0.55%
• 1M: 27.97%
• YTD: 81.19%
• 6M: 75.96%
• 1Y: -87.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CONL

• 1D: -7.83%
• 1M: -30.11%
• YTD: -65.46%
• 6M: -70.11%
• 1Y: -86.06%
• 3Y*: -14.86%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NAMM vs. CONL - Yearly Performance Comparison

	2026 (YTD)	2025
NAMM Namib Minerals	81.19%	-94.13%
CONL GraniteShares 2x Long COIN Daily ETF	-65.46%	-38.50%

Correlation

The correlation between NAMM and CONL is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.17

Return for Risk

NAMM vs. CONL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NAMM

NAMM Risk / Return Rank: 20
NAMM Sharpe Ratio Rank: 25
NAMM Sortino Ratio Rank: 25
NAMM Omega Ratio Rank: 26
NAMM Calmar Ratio Rank: 5
NAMM Martin Ratio Rank: 19

CONL

CONL Risk / Return Rank: 3
CONL Sharpe Ratio Rank: 4
CONL Sortino Ratio Rank: 3
CONL Omega Ratio Rank: 3
CONL Calmar Ratio Rank: 1
CONL Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NAMM vs. CONL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Namib Minerals (NAMM) and GraniteShares 2x Long COIN Daily ETF (CONL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NAMM	CONL	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	-0.63	+0.23
Sortino ratio: Return per unit of downside risk	-0.30	-1.10	+0.80
Omega ratio: Gain probability vs. loss probability	0.97	0.88	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.93	-0.93	0.00
Martin ratio: Return relative to average drawdown	-1.09	-1.25	+0.16

NAMM vs. CONL - Sharpe Ratio Comparison

The current NAMM Sharpe Ratio is -0.40, which is higher than the CONL Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of NAMM and CONL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NAMM vs. CONL - Drawdown Comparison

The maximum NAMM drawdown since its inception was -97.05%, roughly equal to the maximum CONL drawdown of -94.36%. Use the drawdown chart below to compare losses from any high point for NAMM and CONL.

Drawdown Indicators

	NAMM	CONL	Difference
Max Drawdown Largest peak-to-trough decline	-97.05%	-94.36%	-2.69%
Max Drawdown (1Y) Largest decline over 1 year	-93.36%	-92.57%	-0.79%
Max Drawdown (3Y) Largest decline over 3 years	—	-94.36%	—
Current Drawdown Current decline from peak	-94.14%	-94.06%	-0.08%
Average Drawdown Average peak-to-trough decline	-88.55%	-56.45%	-32.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	80.65%	68.94%	+11.71%

Volatility

NAMM vs. CONL - Volatility Comparison

Namib Minerals (NAMM) has a higher volatility of 41.49% compared to GraniteShares 2x Long COIN Daily ETF (CONL) at 36.69%. This indicates that NAMM's price experiences larger fluctuations and is considered to be riskier than CONL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAMM	CONL	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.49%	36.69%	+4.80%
Volatility (6M) Calculated over the trailing 6-month period	148.15%	102.83%	+45.32%
Volatility (1Y) Calculated over the trailing 1-year period	216.35%	135.85%	+80.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	229.33%	149.59%	+79.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	229.33%	149.59%	+79.74%

Dividends

NAMM vs. CONL - Dividend Comparison

Neither NAMM nor CONL has paid dividends to shareholders.

Position	TTM	2025	2024
CONL GraniteShares 2x Long COIN Daily ETF	0.00%	0.00%	0.31%
NAMM Namib Minerals	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NAMM and CONL in my portfolio?

NAMM and CONL have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NAMM or CONL?

NAMM has higher volatility (41.49%) compared to CONL (36.69%). In terms of maximum drawdown, NAMM dropped -97.05% vs CONL's -94.36%.

Which has better risk-adjusted returns?

NAMM currently has the higher Sharpe Ratio (-0.40 vs -0.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.