Render (RENDER) is 8381.8× the size of CADAI (CADAI) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 189 shared trading days). CADAI has been the more volatile of the two, at 125% annualised against RENDER's 95%.
CADAIRENDER
0.15over 189 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 | CADAI | RENDER |
|---|---|---|
| Max drawdown (400d) | -75.9% | -66.8% |
| Risk-adjusted return (90d) | -0.51 | 0.26 |
| Best 30 days (past year) | — | +82.4% |
| Worst 30 days (past year) | — | -49.7% |
Relative strength over 90 days: RENDER outperformed CADAI by 56.6% — measured on the CADAI/RENDER ratio, so it holds regardless of market direction.