Energy Web Token (EWT) is 339.9× the size of Brokoli (BRKL) by market capitalisation. Their daily returns move barely together (correlation 0.10 across 38 shared trading days). EWT has been the more volatile of the two, at 96% annualised against BRKL's 73%.
BRKLEWT
0.10over 38 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 | BRKL | EWT |
|---|---|---|
| Max drawdown (400d) | -63.1% | -21.1% |
| Risk-adjusted return (90d) | -0.70 | 0.00 |
| Best 30 days (past year) | +53.2% | — |
| Worst 30 days (past year) | -26.8% | — |
Relative strength over 90 days: EWT outperformed BRKL by 27.2% — measured on the BRKL/EWT ratio, so it holds regardless of market direction.