AxonDAO Governance Token vs The Innovation Game

The Innovation Game (TIG) is 16.5× the size of AxonDAO Governance Token (AXGT) by market capitalisation. Over the past 30 days, TIG is ahead by 64.0 percentage points (AXGT -80.5% against TIG -16.5%). Their daily returns move barely in opposite directions (correlation -0.04 across 39 shared trading days). AXGT has been the more volatile of the two, at 279% annualised against TIG's 153%.

Correlation: -0.04
Size ratio: 1 : 16.5
Ahead over 30 days: TIG

AxonDAO Governance TokenAXGT

$0.005056

24h: -2.87%
Market cap: $1.20M
Volume 24h: $6,400
Volatility (ann.): 279%

The Innovation GameTIG

$0.527037

24h: -4.37%
Market cap: $19.78M
Volume 24h: $363,629
Volatility (ann.): 153%

AXGT 5.7%Share of the two combined market caps94.3% TIG

Performance

AXGTTIG

7 days-10.11%-5.25%TIG
30 days-80.46%-16.46%TIG

Correlation

-0.04over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	AXGT	TIG
Max drawdown (400d)	-83.7%	-46.1%
Risk-adjusted return (90d)	-0.21	-0.20

Relative strength over 90 days: TIG outperformed AXGT by 43.2% — measured on the AXGT/TIG ratio, so it holds regardless of market direction.

AxonDAO Governance Token →The Innovation Game →