DoubleZero (2Z) is 4.5× the size of Apro (AT) by market capitalisation. Over the past 1 year, AT is ahead by 39.8 percentage points (AT -45.5% against 2Z -85.3%). Their daily returns move barely together (correlation 0.04 across 343 shared trading days). AT has been the more volatile of the two, at 115% annualised against 2Z's 100%.
AT2Z
0.04over 343 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 | AT | 2Z |
|---|---|---|
| Max drawdown (400d) | -61.5% | -96.1% |
| Risk-adjusted return (90d) | -0.23 | -0.58 |
| Best 30 days (past year) | — | +35.8% |
| Worst 30 days (past year) | — | -61.3% |
Relative strength over 90 days: AT outperformed 2Z by 94.6% — measured on the AT/2Z ratio, so it holds regardless of market direction.