affine vs Targon

Targon (SN4) is 1.8× the size of affine (SN120) by market capitalisation. Over the past 30 days, SN4 is ahead by 14.2 percentage points (SN120 -15.2% against SN4 -1.0%). Their daily returns move very closely together (correlation 0.92 across 53 shared trading days). Both have run at a similar volatility, around 125% annualised.

Correlation: 0.92
Size ratio: 1 : 1.8
Ahead over 30 days: SN4

affineSN120

$10.0800

24h: +6.08%
Market cap: $44.89M
Volume 24h: $210,933
Volatility (ann.): 117%

TargonSN4

$13.6200

24h: +6.32%
Market cap: $80.51M
Volume 24h: $850,148
Volatility (ann.): 133%

SN120 35.8%Share of the two combined market caps64.2% SN4

Performance

SN120SN4

7 days-6.33%-7.54%SN120
30 days-15.18%-1.02%SN4

Correlation

0.92over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.9190d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN120	SN4
Max drawdown (400d)	-37.7%	-24.4%
Risk-adjusted return (90d)	-0.13	0.21

Relative strength over 90 days: SN4 outperformed SN120 by 27.8% — measured on the SN120/SN4 ratio, so it holds regardless of market direction.

affine →Targon →