Filecoin (FIL) is 146.6× the size of Aleph Cloud (ALEPH) by market capitalisation. Over the past 1 year, FIL is ahead by 38.6 percentage points (ALEPH -79.1% against FIL -40.5%). Their daily returns move barely together (correlation 0.20 across 373 shared trading days). ALEPH has been the more volatile of the two, at 150% annualised against FIL's 125%.
ALEPHFIL
0.20over 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 | ALEPH | FIL |
|---|---|---|
| Max drawdown (400d) | -87.1% | -81.4% |
| Risk-adjusted return (90d) | 0.56 | 0.19 |
| Best 30 days (past year) | +40.7% | +66.2% |
| Worst 30 days (past year) | -46.5% | -57.1% |
Relative strength over 90 days: ALEPH outperformed FIL by 24.9% — measured on the ALEPH/FIL ratio, so it holds regardless of market direction.