Plasma (XPL) is 100.8× the size of Avici (AVICI) by market capitalisation. Over the past 1 year, XPL is ahead by 13.8 percentage points (AVICI -90.8% against XPL -77.0%). Their daily returns move barely together (correlation 0.23 across 337 shared trading days). AVICI has been the more volatile of the two, at 179% annualised against XPL's 135%.
AVICIXPL
0.23over 337 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 | AVICI | XPL |
|---|---|---|
| Max drawdown (400d) | -96.9% | -94.1% |
| Risk-adjusted return (90d) | -0.58 | -0.15 |
| Best 30 days (past year) | — | +66.7% |
| Worst 30 days (past year) | — | -62.3% |
Relative strength over 90 days: XPL outperformed AVICI by 53.4% — measured on the AVICI/XPL ratio, so it holds regardless of market direction.