PCYO vs. CDZI

Last updated Jun 24, 2026

PCYO (Pure Cycle Corporation) and CDZI (Cadiz Inc.) are both stocks. Both operate in the Utilities - Regulated Water industry within the Utilities sector. Over the past 10 years, PCYO returned 9.02%/yr vs -2.64%/yr for CDZI. At a 0.08 correlation, their price movements are largely independent.

Performance

PCYO vs. CDZI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pure Cycle Corporation (PCYO) and Cadiz Inc. (CDZI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCYO achieves a 0.55% return, which is significantly higher than CDZI's -27.45% return. Over the past 10 years, PCYO has outperformed CDZI with an annualized return of 9.02%, while CDZI has yielded a comparatively lower -2.64% annualized return.

PCYO

• 1D: -1.07%
• 1M: 10.06%
• YTD: 0.55%
• 6M: -1.69%
• 1Y: 7.28%
• 3Y*: 1.33%
• 5Y*: -4.95%
• 10Y*: 9.02%

CDZI

• 1D: 1.75%
• 1M: -4.12%
• YTD: -27.45%
• 6M: -29.09%
• 1Y: 30.87%
• 3Y*: 1.17%
• 5Y*: -20.57%
• 10Y*: -2.64%

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

PCYO vs. CDZI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCYO Pure Cycle Corporation	0.55%	-13.33%	21.11%	-0.10%	-28.22%	30.01%	-10.80%	26.79%	18.92%	51.82%
CDZI Cadiz Inc.	-27.45%	7.88%	85.71%	12.00%	-35.23%	-63.76%	-3.36%	6.99%	-27.72%	14.00%

Correlation

The correlation between PCYO and CDZI 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 (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.08

The correlation between PCYO and CDZI shifts across timeframes, from 0.08 (all time) to 0.22 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PCYO : $267.10M CDZI : $329.93M
EPS PCYO : $0.61 CDZI : -$0.42
PS Ratio PCYO : 8.71 CDZI : 20.39
PB Ratio PCYO : 1.80 CDZI : 14.19
Total Revenue (TTM) PCYO : $30.64M CDZI : $16.31M
Gross Profit (TTM) PCYO : $18.62M CDZI : $5.15M
EBITDA (TTM) PCYO : $19.50M CDZI : -$25.60M

Return for Risk

PCYO vs. CDZI — Risk / Return Rank

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

PCYO

PCYO Risk / Return Rank: 50
PCYO Sharpe Ratio Rank: 52
PCYO Sortino Ratio Rank: 46
PCYO Omega Ratio Rank: 45
PCYO Calmar Ratio Rank: 53
PCYO Martin Ratio Rank: 53

CDZI

CDZI Risk / Return Rank: 58
CDZI Sharpe Ratio Rank: 60
CDZI Sortino Ratio Rank: 59
CDZI Omega Ratio Rank: 55
CDZI Calmar Ratio Rank: 58
CDZI Martin Ratio Rank: 58

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.

PCYO vs. CDZI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pure Cycle Corporation (PCYO) and Cadiz Inc. (CDZI). 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.

	PCYO	CDZI	Difference
Sharpe ratio: Return per unit of total volatility	0.25	0.52	-0.27
Sortino ratio: Return per unit of downside risk	0.58	1.12	-0.54
Omega ratio: Gain probability vs. loss probability	1.07	1.13	-0.06
Calmar ratio: Return relative to maximum drawdown	0.42	0.68	-0.27
Martin ratio: Return relative to average drawdown	0.90	1.47	-0.58

PCYO vs. CDZI - Sharpe Ratio Comparison

The current PCYO Sharpe Ratio is 0.25, which is lower than the CDZI Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of PCYO and CDZI, 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

PCYO vs. CDZI - Drawdown Comparison

The maximum PCYO drawdown since its inception was -89.13%, smaller than the maximum CDZI drawdown of -99.57%. Use the drawdown chart below to compare losses from any high point for PCYO and CDZI.

Drawdown Indicators

	PCYO	CDZI	Difference
Max Drawdown Largest peak-to-trough decline	-89.13%	-99.57%	+10.44%
Max Drawdown (1Y) Largest decline over 1 year	-17.50%	-45.38%	+27.88%
Max Drawdown (3Y) Largest decline over 3 years	-33.36%	-56.47%	+23.11%
Max Drawdown (5Y) Largest decline over 5 years	-51.46%	-89.21%	+37.75%
Max Drawdown (10Y) Largest decline over 10 years	-52.49%	-90.16%	+37.67%
Current Drawdown Current decline from peak	-32.79%	-98.82%	+66.03%
Average Drawdown Average peak-to-trough decline	-52.41%	-75.77%	+23.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.14%	21.01%	-12.87%

Volatility

PCYO vs. CDZI - Volatility Comparison

The current volatility for Pure Cycle Corporation (PCYO) is 9.05%, while Cadiz Inc. (CDZI) has a volatility of 21.32%. This indicates that PCYO experiences smaller price fluctuations and is considered to be less risky than CDZI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCYO	CDZI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	21.32%	-12.27%
Volatility (6M) Calculated over the trailing 6-month period	23.61%	40.92%	-17.31%
Volatility (1Y) Calculated over the trailing 1-year period	29.56%	59.36%	-29.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.23%	72.24%	-40.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.52%	57.73%	-22.21%

Dividends

PCYO vs. CDZI - Dividend Comparison

Neither PCYO nor CDZI has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both PCYO and CDZI in my portfolio?

PCYO and CDZI 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, PCYO or CDZI?

CDZI has higher volatility (21.32%) compared to PCYO (9.05%). In terms of maximum drawdown, PCYO dropped -89.13% vs CDZI's -99.57%.

Which has better risk-adjusted returns?

CDZI currently has the higher Sharpe Ratio (0.52 vs 0.25), 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.