Croatian Football Federation Token (VATRENI) is 5.9× the size of AC Milan Fan Token (ACM) by market capitalisation. Their daily returns move closely together (correlation 0.63 across 45 shared trading days). VATRENI has been the more volatile of the two, at 73% annualised against ACM's 51%.
$1.3000
ACMVATRENI
0.63over 45 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 | ACM | VATRENI |
|---|---|---|
| Max drawdown (400d) | -74.1% | -25.7% |
| Risk-adjusted return (90d) | -0.43 | -0.23 |
| Best 30 days (past year) | +17.3% | — |
| Worst 30 days (past year) | -34.1% | — |
Relative strength over 90 days: VATRENI outperformed ACM by 4.7% — measured on the ACM/VATRENI ratio, so it holds regardless of market direction.