PA=F vs. HG=F

Last updated Apr 3, 2026

Compare and contrast key facts about Palladium (PA=F) and Copper (HG=F).

Performance

PA=F vs. HG=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Palladium (PA=F) and Copper (HG=F). The values are adjusted to include any dividend payments, if applicable.

PA=F vs. HG=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PA=F Palladium	-7.01%	79.07%	-17.98%	-38.30%	-5.52%	-22.50%	28.42%	59.67%	13.49%	54.27%
HG=F Copper	0.91%	39.82%	3.50%	2.10%	-14.63%	26.84%	25.81%	6.31%	-20.28%	31.73%

Returns By Period

In the year-to-date period, PA=F achieves a -7.01% return, which is significantly lower than HG=F's 0.91% return. Both investments have delivered pretty close results over the past 10 years, with PA=F having a 10.62% annualized return and HG=F not far behind at 10.23%.

PA=F

• 1D: 2.48%
• 1M: -7.34%
• YTD: -7.01%
• 6M: 20.30%
• 1Y: 53.76%
• 3Y*: 1.29%
• 5Y*: -10.71%
• 10Y*: 10.62%

HG=F

• 1D: 1.02%
• 1M: -1.59%
• YTD: 0.91%
• 6M: 16.00%
• 1Y: 12.72%
• 3Y*: 11.95%
• 5Y*: 7.30%
• 10Y*: 10.23%

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

Return for Risk

PA=F vs. HG=F — Risk / Return Rank

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

PA=F

PA=F Risk / Return Rank: 25
PA=F Sharpe Ratio Rank: 35
PA=F Sortino Ratio Rank: 31
PA=F Omega Ratio Rank: 28
PA=F Calmar Ratio Rank: 18
PA=F Martin Ratio Rank: 16

HG=F

HG=F Risk / Return Rank: 4
HG=F Sharpe Ratio Rank: 6
HG=F Sortino Ratio Rank: 6
HG=F Omega Ratio Rank: 6
HG=F Calmar Ratio Rank: 0
HG=F Martin Ratio Rank: 0

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.

PA=F vs. HG=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Palladium (PA=F) and Copper (HG=F). 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.

	PA=F	HG=F	Difference
Sharpe ratio Return per unit of total volatility	0.89	0.30	+0.59
Sortino ratio Return per unit of downside risk	1.33	0.61	+0.72
Omega ratio Gain probability vs. loss probability	1.20	1.11	+0.09
Calmar ratio Return relative to maximum drawdown	1.23	0.86	+0.37
Martin ratio Return relative to average drawdown	3.35	1.79	+1.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PA=F vs. HG=F - Sharpe Ratio Comparison

The current PA=F Sharpe Ratio is 0.89, which is higher than the HG=F Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of PA=F and HG=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PA=F	HG=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	0.30	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	0.26	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.42	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.00	+0.20

Correlation

The correlation between PA=F and HG=F is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

PA=F vs. HG=F - Drawdown Comparison

The maximum PA=F drawdown since its inception was -74.88%, smaller than the maximum HG=F drawdown of -99.27%. Use the drawdown chart below to compare losses from any high point for PA=F and HG=F.

Drawdown Indicators

	PA=F	HG=F	Difference
Max Drawdown Largest peak-to-trough decline	-74.88%	-99.27%	+24.39%
Max Drawdown (1Y) Largest decline over 1 year	-38.19%	-25.17%	-13.02%
Max Drawdown (5Y) Largest decline over 5 years	-74.88%	-34.96%	-39.92%
Max Drawdown (10Y) Largest decline over 10 years	-74.88%	-36.54%	-38.34%
Current Drawdown Current decline from peak	-53.94%	-8.00%	-45.94%
Average Drawdown Average peak-to-trough decline	-26.67%	-29.73%	+3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.02%	12.06%	+1.96%

Volatility

PA=F vs. HG=F - Volatility Comparison

Palladium (PA=F) has a higher volatility of 13.67% compared to Copper (HG=F) at 6.96%. This indicates that PA=F's price experiences larger fluctuations and is considered to be riskier than HG=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PA=F	HG=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.67%	6.96%	+6.71%
Volatility (6M) Calculated over the trailing 6-month period	46.40%	20.78%	+25.62%
Volatility (1Y) Calculated over the trailing 1-year period	51.53%	36.93%	+14.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.63%	26.75%	+16.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.42%	23.53%	+13.89%