Axie Infinity (AXS) is 695.3× the size of Affyn (FYN) by market capitalisation. Over the past 1 year, AXS is ahead by 36.1 percentage points (FYN -62.1% against AXS -26.0%). Their daily returns move barely together (correlation 0.23 across 373 shared trading days). AXS has been the more volatile of the two, at 121% annualised against FYN's 78%.
FYNAXS
0.23over 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 | FYN | AXS |
|---|---|---|
| Max drawdown (400d) | -66.8% | -72.0% |
| Risk-adjusted return (90d) | -0.57 | -0.02 |
| Best 30 days (past year) | +70.1% | +248.7% |
| Worst 30 days (past year) | -44.6% | -55.5% |
Relative strength over 90 days: AXS outperformed FYN by 30.1% — measured on the FYN/AXS ratio, so it holds regardless of market direction.