Optimism (OP) is 9.7× the size of Cartesi (CTSI) by market capitalisation. Over the past 1 year, CTSI is ahead by 31.0 percentage points (CTSI -37.0% against OP -68.1%). Their daily returns move loosely together (correlation 0.36 across 399 shared trading days). CTSI has been the more volatile of the two, at 120% annualised against OP's 100%.
CTSIOP
0.36over 399 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 | CTSI | OP |
|---|---|---|
| Max drawdown (400d) | -73.4% | -89.2% |
| Risk-adjusted return (90d) | -0.15 | 0.24 |
| Best 30 days (past year) | +75.0% | +67.2% |
| Worst 30 days (past year) | -35.9% | -60.5% |
Relative strength over 90 days: OP outperformed CTSI by 31.1% — measured on the CTSI/OP ratio, so it holds regardless of market direction.