Quant (QNT) is 30.4× the size of Apollo Diversified Credit Securitize Fund (ACRED) by market capitalisation. Their daily returns move barely together (correlation 0.00 across 56 shared trading days). QNT has been the more volatile of the two, at 128% annualised against ACRED's 2%.
$1,111.18
ACREDQNT
0.00over 56 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 | ACRED | QNT |
|---|---|---|
| Max drawdown (400d) | -0.7% | -47.6% |
| Risk-adjusted return (90d) | 0.12 | 0.95 |
| Best 30 days (past year) | — | +369.8% |
| Worst 30 days (past year) | — | -33.0% |
Relative strength over 90 days: QNT outperformed ACRED by 70.8% — measured on the ACRED/QNT ratio, so it holds regardless of market direction.