Virtuals Protocol (VIRTUAL) is 41.5× the size of Bluwhale (BLUAI) by market capitalisation. Over the past 1 year, VIRTUAL is ahead by 1.1 percentage points (BLUAI -57.2% against VIRTUAL -56.1%). Their daily returns move barely together (correlation 0.19 across 354 shared trading days). BLUAI has been the more volatile of the two, at 207% annualised against VIRTUAL's 119%.
BLUAIVIRTUAL
0.19over 354 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 | BLUAI | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -86.8% | -71.7% |
| Risk-adjusted return (90d) | -0.22 | 0.06 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed BLUAI by 55.8% — measured on the BLUAI/VIRTUAL ratio, so it holds regardless of market direction.