PL vs. CMCL

Last updated Jun 9, 2026

PL (Planet Labs PBC) and CMCL (Caledonia Mining Corporation Plc) are both stocks. PL operates in Aerospace & Defense (Industrials), while CMCL operates in Gold (Basic Materials). Over the past 5 years, PL returned 26.90%/yr vs 11.37%/yr for CMCL. At a 0.16 correlation, their price movements are largely independent.

Performance

PL vs. CMCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Planet Labs PBC (PL) and Caledonia Mining Corporation Plc (CMCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PL achieves a 66.02% return, which is significantly higher than CMCL's -23.85% return.

PL

• 1D: 1.61%
• 1M: -16.14%
• YTD: 66.02%
• 6M: 152.82%
• 1Y: 460.62%
• 3Y*: 112.54%
• 5Y*: 26.90%
• 10Y*: —

CMCL

• 1D: -1.30%
• 1M: -17.18%
• YTD: -23.85%
• 6M: -17.45%
• 1Y: 8.42%
• 3Y*: 16.31%
• 5Y*: 11.37%
• 10Y*: —

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

PL vs. CMCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PL Planet Labs PBC	66.02%	388.12%	63.56%	-43.22%	-29.27%	-37.88%
CMCL Caledonia Mining Corporation Plc	-23.85%	186.75%	-18.90%	2.65%	11.39%	-15.31%

Correlation

The correlation between PL and CMCL is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Apr 27, 2021	0.16

Fundamentals

Market Cap PL : $11.31B CMCL : $390.18M
EPS PL : -$1.17 CMCL : $3.15
PS Ratio PL : 31.13 CMCL : 1.42
PB Ratio PL : 25.50 CMCL : 1.44
Total Revenue (TTM) PL : $335.61M CMCL : $274.16M
Gross Profit (TTM) PL : $186.28M CMCL : $142.30M
EBITDA (TTM) PL : -$125.70M CMCL : $137.13M

Return for Risk

PL vs. CMCL — Risk / Return Rank

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

PL

PL Risk / Return Rank: 97
PL Sharpe Ratio Rank: 98
PL Sortino Ratio Rank: 96
PL Omega Ratio Rank: 95
PL Calmar Ratio Rank: 98
PL Martin Ratio Rank: 99

CMCL

CMCL Risk / Return Rank: 46
CMCL Sharpe Ratio Rank: 47
CMCL Sortino Ratio Rank: 47
CMCL Omega Ratio Rank: 46
CMCL Calmar Ratio Rank: 47
CMCL Martin Ratio Rank: 46

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.

PL vs. CMCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Planet Labs PBC (PL) and Caledonia Mining Corporation Plc (CMCL). 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.

	PL	CMCL	Difference
Sharpe ratio: Return per unit of total volatility	4.57	0.13	+4.44
Sortino ratio: Return per unit of downside risk	4.17	0.61	+3.56
Omega ratio: Gain probability vs. loss probability	1.55	1.08	+0.48
Calmar ratio: Return relative to maximum drawdown	12.45	0.18	+12.27
Martin ratio: Return relative to average drawdown	38.43	0.35	+38.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PL vs. CMCL - Sharpe Ratio Comparison

The current PL Sharpe Ratio is 4.57, which is higher than the CMCL Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of PL and CMCL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PL	CMCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.57	0.13	+4.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.22	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.33	0.00

Drawdowns

PL vs. CMCL - Drawdown Comparison

The maximum PL drawdown since its inception was -85.73%, which is greater than CMCL's maximum drawdown of -65.77%. Use the drawdown chart below to compare losses from any high point for PL and CMCL.

Drawdown Indicators

	PL	CMCL	Difference
Max Drawdown Largest peak-to-trough decline	-85.73%	-65.77%	-19.96%
Max Drawdown (1Y) Largest decline over 1 year	-37.32%	-46.89%	+9.57%
Max Drawdown (3Y) Largest decline over 3 years	-55.17%	-46.89%	-8.28%
Max Drawdown (5Y) Largest decline over 5 years	-85.73%	-50.00%	-35.73%
Current Drawdown Current decline from peak	-36.30%	-46.89%	+10.59%
Average Drawdown Average peak-to-trough decline	-49.97%	-35.78%	-14.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.07%	24.39%	-12.32%

Volatility

PL vs. CMCL - Volatility Comparison

Planet Labs PBC (PL) has a higher volatility of 39.05% compared to Caledonia Mining Corporation Plc (CMCL) at 13.82%. This indicates that PL's price experiences larger fluctuations and is considered to be riskier than CMCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PL	CMCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.05%	13.82%	+25.23%
Volatility (6M) Calculated over the trailing 6-month period	77.24%	47.23%	+30.01%
Volatility (1Y) Calculated over the trailing 1-year period	101.84%	65.15%	+36.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.73%	52.69%	+28.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.79%	54.58%	+25.21%

Dividends

PL vs. CMCL - Dividend Comparison

PL has not paid dividends to shareholders, while CMCL's dividend yield for the trailing twelve months is around 2.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMCL Caledonia Mining Corporation Plc	2.84%	2.14%	5.95%	4.59%	4.52%	4.29%	2.11%	3.27%	5.23%	1.86%
PL Planet Labs PBC	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both PL and CMCL in my portfolio?

PL and CMCL have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PL or CMCL?

PL has higher volatility (39.05%) compared to CMCL (13.82%). In terms of maximum drawdown, PL dropped -85.73% vs CMCL's -65.77%.

Which has better risk-adjusted returns?

PL currently has the higher Sharpe Ratio (4.57 vs 0.13), 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.