GMX (GMX) is 255.5× the size of Aark Digital (AARK) by market capitalisation. Over the past 1 year, GMX is ahead by 93.6 percentage points (AARK -96.4% against GMX -2.8%). Their daily returns move barely in opposite directions (correlation -0.17 across 373 shared trading days). AARK has been the more volatile of the two, at 323% annualised against GMX's 75%.
AARKGMX
-0.17over 373 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | AARK | GMX |
|---|---|---|
| Max drawdown (400d) | -99.2% | -66.5% |
| Risk-adjusted return (90d) | -0.26 | 0.51 |
| Best 30 days (past year) | +102.0% | +32.0% |
| Worst 30 days (past year) | -87.2% | -34.5% |
Relative strength over 90 days: GMX outperformed AARK by 93.5% — measured on the AARK/GMX ratio, so it holds regardless of market direction.