Canton (CC) is 1.0× the size of Rain (RAIN) by market capitalisation. Over the past 30 days, CC is ahead by 28.5 percentage points (CC -33.1% against RAIN -61.6%). Their daily returns move barely in opposite directions (correlation -0.04 across 63 shared trading days). Both have run at a similar volatility, around 128% annualised.
CCRAIN
-0.04over 63 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 | CC | RAIN |
|---|---|---|
| Max drawdown (400d) | -33.1% | -74.5% |
| Risk-adjusted return (90d) | -0.04 | -0.46 |
Relative strength over 90 days: CC outperformed RAIN by 151.7% — measured on the CC/RAIN ratio, so it holds regardless of market direction.