Atletico Madrid Fan Token (ATM) is 1.3× the size of Santos FC Fan Token (SANTOS) by market capitalisation. Over the past 1 year, ATM is ahead by 51.7 percentage points (ATM -14.8% against SANTOS -66.5%). Their daily returns move barely together (correlation 0.29 across 399 shared trading days). ATM has been the more volatile of the two, at 98% annualised against SANTOS's 82%.
$0.848000
ATMSANTOS
0.29over 399 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 | ATM | SANTOS |
|---|---|---|
| Max drawdown (400d) | -69.8% | -83.8% |
| Risk-adjusted return (90d) | -0.70 | -0.24 |
| Best 30 days (past year) | +202.1% | +66.2% |
| Worst 30 days (past year) | -50.8% | -51.3% |
Relative strength over 90 days: SANTOS outperformed ATM by 37.4% — measured on the ATM/SANTOS ratio, so it holds regardless of market direction.