Arcium (ARX) is 1.1× the size of GoPlus Security (GPS) by market capitalisation. Their daily returns move barely together (correlation 0.11 across 51 shared trading days). GPS has been the more volatile of the two, at 143% annualised against ARX's 117%.
ARXGPS
0.11over 51 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 | ARX | GPS |
|---|---|---|
| Max drawdown (400d) | -19.7% | -69.1% |
| Risk-adjusted return (90d) | 0.58 | -0.06 |
| Best 30 days (past year) | — | +129.2% |
| Worst 30 days (past year) | — | -43.5% |
Relative strength over 90 days: ARX outperformed GPS by 138.2% — measured on the ARX/GPS ratio, so it holds regardless of market direction.