Immutable (IMX) is 5.6× the size of Capybobo (PYBOBO) by market capitalisation. Over the past 1 year, PYBOBO is ahead by 39.6 percentage points (PYBOBO -33.7% against IMX -73.3%). Their daily returns move barely together (correlation 0.08 across 320 shared trading days). Both have run at a similar volatility, around 92% annualised.
PYBOBOIMX
0.08over 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 | IMX |
|---|---|---|
| Max drawdown (400d) | -63.1% | -87.2% |
| Risk-adjusted return (90d) | -0.45 | 0.08 |
| Best 30 days (past year) | — | +67.7% |
| Worst 30 days (past year) | — | -50.4% |
Relative strength over 90 days: IMX outperformed PYBOBO by 29.8% — measured on the PYBOBO/IMX ratio, so it holds regardless of market direction.