Aurix (AUR) and Frax (prev. FXS) (FRAX) compared side by side. Over the past 30 days, AUR is ahead by 19.2 percentage points (AUR +2.8% against FRAX -16.5%). Their daily returns move closely together (correlation 0.70 across 25 shared trading days). FRAX has been the more volatile of the two, at 109% annualised against AUR's 31%.
AURFRAX
0.70over 25 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 | AUR | FRAX |
|---|---|---|
| Max drawdown (400d) | -5.2% | -23.4% |
| Risk-adjusted return (90d) | 0.09 | -0.20 |
Relative strength over 90 days: FRAX outperformed AUR by 2.3% — measured on the AUR/FRAX ratio, so it holds regardless of market direction.