Camp Network (CAMP) is 9.7× the size of Aria (ARIAIP) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 180 shared trading days). ARIAIP has been the more volatile of the two, at 312% annualised against CAMP's 156%.
ARIAIPCAMP
-0.00over 180 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 | ARIAIP | CAMP |
|---|---|---|
| Max drawdown (400d) | -94.4% | -99.8% |
| Risk-adjusted return (90d) | -0.28 | -0.31 |
| Best 30 days (past year) | — | +77.6% |
| Worst 30 days (past year) | — | -78.0% |
Relative strength over 90 days: ARIAIP outperformed CAMP by 4.3% — measured on the ARIAIP/CAMP ratio, so it holds regardless of market direction.