Auki (AUKI) is 383.8× the size of Arcona (ARCONA) by market capitalisation. Their daily returns move barely together (correlation 0.12 across 24 shared trading days). AUKI has been the more volatile of the two, at 191% annualised against ARCONA's 138%.
ARCONAAUKI
0.12over 24 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 | ARCONA | AUKI |
|---|---|---|
| Max drawdown (400d) | -73.2% | -46.0% |
| Risk-adjusted return (90d) | -0.03 | 0.17 |
Relative strength over 90 days: AUKI outperformed ARCONA by 45.0% — measured on the ARCONA/AUKI ratio, so it holds regardless of market direction.