Cosmos Hub (ATOM) is 3897.2× the size of Analog (ANLOG) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 183 shared trading days). ANLOG has been the more volatile of the two, at 368% annualised against ATOM's 74%.
ANLOGATOM
-0.04over 183 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 | ANLOG | ATOM |
|---|---|---|
| Max drawdown (400d) | -96.3% | -71.6% |
| Risk-adjusted return (90d) | -0.14 | 0.05 |
| Best 30 days (past year) | — | +38.6% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: ATOM outperformed ANLOG by 50.0% — measured on the ANLOG/ATOM ratio, so it holds regardless of market direction.