AGENTWARE (WARE) and GREEN MORNING (GM) compared side by side. Their daily returns move loosely in opposite directions (correlation -0.46 across 20 shared trading days). GM has been the more volatile of the two, at 548472% annualised against WARE's 357%.
WAREGM
-0.46over 20 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 | WARE | GM |
|---|---|---|
| Max drawdown (400d) | -89.0% | -100.0% |
| Risk-adjusted return (90d) | — | 0.00 |
Relative strength over 90 days: GM outperformed WARE by 100.0% — measured on the WARE/GM ratio, so it holds regardless of market direction.