Alaya AI (AGT) and Ethena (ENA) compared side by side. Over the past 1 year, AGT is ahead by 764.0 percentage points (AGT +716.5% against ENA -47.5%). Their daily returns move barely in opposite directions (correlation -0.07 across 370 shared trading days). AGT has been the more volatile of the two, at 410% annualised against ENA's 113%.
AGTENA
-0.07over 370 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 | AGT | ENA |
|---|---|---|
| Max drawdown (400d) | -65.0% | -88.7% |
| Risk-adjusted return (90d) | 0.43 | 0.65 |
| Best 30 days (past year) | +433.0% | +107.9% |
| Worst 30 days (past year) | -58.8% | -55.6% |
Relative strength over 90 days: AGT outperformed ENA by 71.5% — measured on the AGT/ENA ratio, so it holds regardless of market direction.