Across Protocol (ACX) is 2150.6× the size of Router Protocol (ROUTE) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 189 shared trading days). ROUTE has been the more volatile of the two, at 202% annualised against ACX's 106%.
ACXROUTE
0.09over 189 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 | ACX | ROUTE |
|---|---|---|
| Max drawdown (400d) | -73.4% | -99.3% |
| Risk-adjusted return (90d) | 0.12 | -0.39 |
Relative strength over 90 days: ACX outperformed ROUTE by 9094.5% — measured on the ACX/ROUTE ratio, so it holds regardless of market direction.