RLX vs. CDE

Last updated Jun 4, 2026

RLX (RLX Technology Inc.) and CDE (Coeur Mining, Inc.) are both stocks. RLX operates in Tobacco (Consumer Defensive), while CDE operates in Gold (Basic Materials). Over the past 5 years, RLX returned -26.33%/yr vs 13.03%/yr for CDE. At a 0.22 correlation, their price movements are largely independent.

Performance

RLX vs. CDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RLX Technology Inc. (RLX) and Coeur Mining, Inc. (CDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RLX achieves a -9.07% return, which is significantly lower than CDE's 1.91% return.

RLX

• 1D: -1.93%
• 1M: -5.58%
• YTD: -9.07%
• 6M: -11.35%
• 1Y: 2.73%
• 3Y*: 6.27%
• 5Y*: -26.33%
• 10Y*: —

CDE

• 1D: -5.42%
• 1M: 3.48%
• YTD: 1.91%
• 6M: 12.51%
• 1Y: 106.48%
• 3Y*: 80.30%
• 5Y*: 13.03%
• 10Y*: 8.06%

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

RLX vs. CDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RLX RLX Technology Inc.	-9.07%	8.27%	8.60%	-12.65%	-41.03%	-86.78%
CDE Coeur Mining, Inc.	1.91%	211.71%	75.46%	-2.98%	-33.33%	-41.40%

Correlation

The correlation between RLX and CDE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 25, 2021	0.22

Fundamentals

EPS RLX : $0.76 CDE : $1.64
PE Ratio RLX : 2.67 CDE : 11.04
PS Ratio RLX : 0.60 CDE : 3.44
Total Revenue (TTM) RLX : $4.35B CDE : $2.57B
Gross Profit (TTM) RLX : $1.44B CDE : $909.07M
EBITDA (TTM) RLX : $513.06M CDE : $1.23B

Return for Risk

RLX vs. CDE — Risk / Return Rank

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

RLX

RLX Risk / Return Rank: 41
RLX Sharpe Ratio Rank: 44
RLX Sortino Ratio Rank: 39
RLX Omega Ratio Rank: 38
RLX Calmar Ratio Rank: 43
RLX Martin Ratio Rank: 43

CDE

CDE Risk / Return Rank: 77
CDE Sharpe Ratio Rank: 81
CDE Sortino Ratio Rank: 76
CDE Omega Ratio Rank: 75
CDE Calmar Ratio Rank: 79
CDE Martin Ratio Rank: 75

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.

RLX vs. CDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RLX Technology Inc. (RLX) and Coeur Mining, Inc. (CDE). 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.

	RLX	CDE	Difference
Sharpe ratio Return per unit of total volatility	0.09	1.54	-1.45
Sortino ratio Return per unit of downside risk	0.38	2.08	-1.70
Omega ratio Gain probability vs. loss probability	1.04	1.27	-0.23
Calmar ratio Return relative to maximum drawdown	0.11	2.65	-2.53
Martin ratio Return relative to average drawdown	0.23	5.15	-4.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RLX vs. CDE - Sharpe Ratio Comparison

The current RLX Sharpe Ratio is 0.09, which is lower than the CDE Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of RLX and CDE, 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

	RLX	CDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	1.54	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.19	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	-0.10	-0.38

Drawdowns

RLX vs. CDE - Drawdown Comparison

The maximum RLX drawdown since its inception was -96.80%, roughly equal to the maximum CDE drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for RLX and CDE.

Drawdown Indicators

	RLX	CDE	Difference
Max Drawdown Largest peak-to-trough decline	-96.80%	-99.40%	+2.60%
Max Drawdown (1Y) Largest decline over 1 year	-24.02%	-40.44%	+16.42%
Max Drawdown (3Y) Largest decline over 3 years	-32.89%	-40.44%	+7.55%
Max Drawdown (5Y) Largest decline over 5 years	-90.47%	-81.79%	-8.68%
Max Drawdown (10Y) Largest decline over 10 years	—	-87.42%	—
Current Drawdown Current decline from peak	-92.72%	-93.70%	+0.98%
Average Drawdown Average peak-to-trough decline	-88.72%	-81.49%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.06%	20.76%	-8.70%

Volatility

RLX vs. CDE - Volatility Comparison

The current volatility for RLX Technology Inc. (RLX) is 9.65%, while Coeur Mining, Inc. (CDE) has a volatility of 20.29%. This indicates that RLX experiences smaller price fluctuations and is considered to be less risky than CDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLX	CDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.65%	20.29%	-10.64%
Volatility (6M) Calculated over the trailing 6-month period	21.22%	53.39%	-32.17%
Volatility (1Y) Calculated over the trailing 1-year period	31.14%	69.54%	-38.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.30%	68.13%	+6.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.91%	68.73%	+11.18%

Dividends

RLX vs. CDE - Dividend Comparison

RLX's dividend yield for the trailing twelve months is around 5.42%, more than CDE's 0.11% yield.

Position	TTM	2025	2024	2023
CDE Coeur Mining, Inc.	0.11%	0.00%	0.00%	0.00%
RLX RLX Technology Inc.	5.42%	0.43%	0.46%	0.50%

Financials

RLX vs. CDE - Profitability Comparison

The chart below illustrates the profitability comparison between RLX Technology Inc. and Coeur Mining, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

RLX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, RLX Technology Inc. reported a gross profit of 490.84M and revenue of 1.46B. Therefore, the gross margin over that period was 33.6%.

CDE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported a gross profit of 0.00 and revenue of 856.19M. Therefore, the gross margin over that period was 0.0%.

RLX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, RLX Technology Inc. reported an operating income of 243.16M and revenue of 1.46B, resulting in an operating margin of 16.7%.

CDE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported an operating income of 349.17M and revenue of 856.19M, resulting in an operating margin of 40.8%.

RLX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, RLX Technology Inc. reported a net income of 282.42M and revenue of 1.46B, resulting in a net margin of 19.3%.

CDE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported a net income of 246.76M and revenue of 856.19M, resulting in a net margin of 28.8%.

Frequently Asked Questions

Can I hold both RLX and CDE in my portfolio?

RLX and CDE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RLX or CDE?

CDE has higher volatility (20.29%) compared to RLX (9.65%). In terms of maximum drawdown, RLX dropped -96.80% vs CDE's -99.40%.

Which has better risk-adjusted returns?

CDE currently has the higher Sharpe Ratio (1.54 vs 0.09), 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.