Bittensor (TAO) is 131.3× the size of ao Computer (AO) by market capitalisation. Over the past 1 year, AO is ahead by 17.7 percentage points (AO -33.9% against TAO -51.6%). Their daily returns move barely together (correlation 0.29 across 365 shared trading days). AO has been the more volatile of the two, at 123% annualised against TAO's 97%.
AOTAO
0.29over 365 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 | AO | TAO |
|---|---|---|
| Max drawdown (400d) | -83.2% | -70.7% |
| Risk-adjusted return (90d) | 0.88 | 0.16 |
| Best 30 days (past year) | — | +104.1% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: AO outperformed TAO by 67.8% — measured on the AO/TAO ratio, so it holds regardless of market direction.