Kite (KITE) is 9240.8× the size of Charles AI by Virtuals (CHARLES) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.11 across 21 shared trading days). CHARLES has been the more volatile of the two, at 3981% annualised against KITE's 121%.
$2.884e-5
CHARLESKITE
-0.11over 21 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 | CHARLES | KITE |
|---|---|---|
| Max drawdown (400d) | -88.2% | -69.5% |
| Risk-adjusted return (90d) | 0.00 | 0.13 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: CHARLES outperformed KITE by 17.9% — measured on the CHARLES/KITE ratio, so it holds regardless of market direction.