Venice Token (VVV) is 14484.3× the size of Big Tony (TONY) by market capitalisation. Their daily returns move barely together (correlation 0.21 across 33 shared trading days). VVV has been the more volatile of the two, at 169% annualised against TONY's 104%.
TONYVVV
0.21over 33 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 | TONY | VVV |
|---|---|---|
| Max drawdown (400d) | -88.8% | -29.6% |
| Risk-adjusted return (90d) | -0.61 | 0.50 |
Relative strength over 90 days: VVV outperformed TONY by 93.4% — measured on the TONY/VVV ratio, so it holds regardless of market direction.