Even when the ALL ORDINARIES (INDEXASX: ^AXAO) (ASX: XAO) is getting pummelled like it has in recent months, there are companies still hitting new highs each week. Perhaps the takeaway is that even when markets are turbulent (when are they not?), performance will usually shine through.

This week’s 52-week highs however, earned their spot through performance. Here’s why:

Scentre Group Ltd (ASX: SCG) – last traded at $4.34, up 10% in the past 12 months

Scentre Group shares have been a strong performer since separating from the combined Westfield Group, with very high occupancy, growing specialty store sales, and rising rents. Scentre has also maintained a cracking dividend yield of around 5%. With a strong development pipeline of new, high-yielding centres coming through, the company is also well positioned for incremental growth in its earnings over the next few years.

I recently sold my Scentre Group shares, mostly because they were a small parcel and I wanted to concentrate my portfolio (I hold more than 20 stocks), but also in small part because I was concerned a slowing domestic economy would begin to hurt the company’s sales and rental growth.

There was no sign of that in the most recent quarterly report, which saw specialty store sales grow 5.8% compared to the prior corresponding period. Either way, Scentre is a high quality business well suited to long-term shareholders. Readers can expect more coverage when the company releases its annual report in two weeks.

Cochlear Limited (ASX: COH) – last traded at $104, up 20% in the past 12 months

Cochlear shares have had quite a bumpy year, trading below $80 on at least two occasions as investors fretted over the company’s growth outlook, competition, patent infringement lawsuits, and an incoming CEO. Patient shareholders have been rewarded with a 32% increase in profit and a decent jump in value.

According to company research, the global hearing aid market is vastly under-penetrated, and management expects this to result in a long-term growth avenue for Cochlear, whose products grow ever more sophisticated and unobtrusive. Additionally, more hearing aid sales results in more service revenue, which offers attractive recurring sales to the company over time. This means that Cochlear doesn’t just win on its initial sale, which is an attractive attribute for any business.

Although Cochlear shares soared this week, the company should still hold value for shareholders willing to be patient and look to the long term.

Additionally, Cochlear shares have proven to be volatile in the past so I believe patient investors could get a second bite at the apple, at a better price.

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Motley Fool contributor Sean O'Neill has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.