FLOKI (FLOKI) is 1984.9× the size of Castle Of Blackwater (COBE) by market capitalisation. Their daily returns move closely together (correlation 0.63 across 184 shared trading days). COBE has been the more volatile of the two, at 103% annualised against FLOKI's 89%.
COBEFLOKI
0.63over 184 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 | COBE | FLOKI |
|---|---|---|
| Max drawdown (400d) | -86.1% | -80.7% |
| Risk-adjusted return (90d) | -0.31 | 0.09 |
| Best 30 days (past year) | — | +35.0% |
| Worst 30 days (past year) | — | -50.0% |
Relative strength over 90 days: FLOKI outperformed COBE by 19.0% — measured on the COBE/FLOKI ratio, so it holds regardless of market direction.