WAF.AX vs. CMM.AX

Last updated Apr 2, 2026

Compare and contrast key facts about West African Resources Limited (WAF.AX) and Capricorn Metals Ltd (CMM.AX).

Performance

WAF.AX vs. CMM.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in West African Resources Limited (WAF.AX) and Capricorn Metals Ltd (CMM.AX). The values are adjusted to include any dividend payments, if applicable.

WAF.AX vs. CMM.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAF.AX West African Resources Limited	13.33%	109.06%	51.85%	-19.57%	-10.98%	26.32%	143.02%	72.00%	-39.02%	86.36%
CMM.AX Capricorn Metals Ltd	-18.29%	128.98%	33.33%	2.39%	35.29%	90.48%	45.12%	275.94%	-1.45%	-34.29%

Returns By Period

In the year-to-date period, WAF.AX achieves a 13.33% return, which is significantly higher than CMM.AX's -18.29% return. Both investments have delivered pretty close results over the past 10 years, with WAF.AX having a 36.63% annualized return and CMM.AX not far ahead at 37.65%.

WAF.AX

• 1D: 6.25%
• 1M: -6.34%
• YTD: 13.33%
• 6M: 11.84%
• 1Y: 45.30%
• 3Y*: 52.43%
• 5Y*: 32.74%
• 10Y*: 36.63%

CMM.AX

• 1D: 6.36%
• 1M: -24.34%
• YTD: -18.29%
• 6M: -12.06%
• 1Y: 44.52%
• 3Y*: 35.15%
• 5Y*: 50.34%
• 10Y*: 37.65%

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

Return for Risk

WAF.AX vs. CMM.AX — Risk / Return Rank

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

WAF.AX

WAF.AX Risk / Return Rank: 70
WAF.AX Sharpe Ratio Rank: 71
WAF.AX Sortino Ratio Rank: 67
WAF.AX Omega Ratio Rank: 68
WAF.AX Calmar Ratio Rank: 71
WAF.AX Martin Ratio Rank: 72

CMM.AX

CMM.AX Risk / Return Rank: 67
CMM.AX Sharpe Ratio Rank: 70
CMM.AX Sortino Ratio Rank: 64
CMM.AX Omega Ratio Rank: 62
CMM.AX Calmar Ratio Rank: 65
CMM.AX Martin Ratio Rank: 73

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.

WAF.AX vs. CMM.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for West African Resources Limited (WAF.AX) and Capricorn Metals Ltd (CMM.AX). 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.

	WAF.AX	CMM.AX	Difference
Sharpe ratio Return per unit of total volatility	0.92	0.87	+0.05
Sortino ratio Return per unit of downside risk	1.49	1.37	+0.12
Omega ratio Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio Return relative to maximum drawdown	1.58	1.16	+0.42
Martin ratio Return relative to average drawdown	4.12	4.20	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAF.AX vs. CMM.AX - Sharpe Ratio Comparison

The current WAF.AX Sharpe Ratio is 0.92, which is comparable to the CMM.AX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of WAF.AX and CMM.AX, 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

	WAF.AX	CMM.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	0.87	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	1.09	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.64	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.00	+0.25

Correlation

The correlation between WAF.AX and CMM.AX is 0.21, 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.

Dividends

WAF.AX vs. CMM.AX - Dividend Comparison

WAF.AX has not paid dividends to shareholders, while CMM.AX's dividend yield for the trailing twelve months is around 0.43%.

	TTM
WAF.AX West African Resources Limited	0.00%
CMM.AX Capricorn Metals Ltd	0.43%

Drawdowns

WAF.AX vs. CMM.AX - Drawdown Comparison

The maximum WAF.AX drawdown since its inception was -92.31%, smaller than the maximum CMM.AX drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for WAF.AX and CMM.AX.

Drawdown Indicators

	WAF.AX	CMM.AX	Difference
Max Drawdown Largest peak-to-trough decline	-92.31%	-99.96%	+7.65%
Max Drawdown (1Y) Largest decline over 1 year	-29.41%	-41.12%	+11.71%
Max Drawdown (5Y) Largest decline over 5 years	-54.61%	-44.54%	-10.07%
Max Drawdown (10Y) Largest decline over 10 years	-58.14%	-71.43%	+13.29%
Current Drawdown Current decline from peak	-13.04%	-26.80%	+13.76%
Average Drawdown Average peak-to-trough decline	-42.30%	-52.00%	+9.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.31%	11.39%	-0.08%

Volatility

WAF.AX vs. CMM.AX - Volatility Comparison

The current volatility for West African Resources Limited (WAF.AX) is 21.11%, while Capricorn Metals Ltd (CMM.AX) has a volatility of 22.73%. This indicates that WAF.AX experiences smaller price fluctuations and is considered to be less risky than CMM.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAF.AX	CMM.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.11%	22.73%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	33.65%	39.35%	-5.70%
Volatility (1Y) Calculated over the trailing 1-year period	49.13%	50.90%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.24%	46.02%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.26%	58.92%	-0.66%

Financials