Stacks (STX) is 340.0× the size of Aeternity (AE) by market capitalisation. Over the past 1 year, AE is ahead by 55.2 percentage points (AE +43.1% against STX -12.0%). Their daily returns move barely together (correlation 0.13 across 363 shared trading days). AE has been the more volatile of the two, at 127% annualised against STX's 93%.
AESTX
0.13over 363 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 | AE | STX |
|---|---|---|
| Max drawdown (400d) | -68.4% | -80.9% |
| Risk-adjusted return (90d) | 0.18 | 1.22 |
| Best 30 days (past year) | — | +120.9% |
| Worst 30 days (past year) | — | -35.3% |
Relative strength over 90 days: STX outperformed AE by 34.3% — measured on the AE/STX ratio, so it holds regardless of market direction.