Collector Crypt (CARDS) is 6.2× the size of Centrifuge (CFG) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 57 shared trading days). CARDS has been the more volatile of the two, at 226% annualised against CFG's 105%.
CFGCARDS
0.46over 57 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 | CFG | CARDS |
|---|---|---|
| Max drawdown (400d) | -70.4% | -44.8% |
| Risk-adjusted return (90d) | -0.47 | 0.21 |
Relative strength over 90 days: CARDS outperformed CFG by 60.7% — measured on the CFG/CARDS ratio, so it holds regardless of market direction.