Atletico Madrid Fan Token (ATM) is 3.3× the size of Arsenal Fan Token (AFC) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 37 shared trading days). ATM has been the more volatile of the two, at 98% annualised against AFC's 62%.
$0.853000
AFCATM
0.41over 37 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 | AFC | ATM |
|---|---|---|
| Max drawdown (400d) | -25.7% | -69.8% |
| Risk-adjusted return (90d) | -0.41 | -0.70 |
| Best 30 days (past year) | — | +202.1% |
| Worst 30 days (past year) | — | -50.8% |
Relative strength over 90 days: AFC outperformed ATM by 10.1% — measured on the AFC/ATM ratio, so it holds regardless of market direction.