Axie Infinity (AXS) is 7.8× the size of Capybobo (PYBOBO) by market capitalisation. Over the past 1 year, AXS is ahead by 1.2 percentage points (PYBOBO -33.7% against AXS -32.5%). Their daily returns move barely together (correlation 0.12 across 320 shared trading days). AXS has been the more volatile of the two, at 121% annualised against PYBOBO's 93%.
PYBOBOAXS
0.12over 320 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 | PYBOBO | AXS |
|---|---|---|
| Max drawdown (400d) | -63.1% | -72.0% |
| Risk-adjusted return (90d) | -0.45 | -0.04 |
| Best 30 days (past year) | — | +248.7% |
| Worst 30 days (past year) | — | -55.5% |
Relative strength over 90 days: AXS outperformed PYBOBO by 28.5% — measured on the PYBOBO/AXS ratio, so it holds regardless of market direction.