Render (RENDER) is 10177.4× the size of Cindicator (CND) by market capitalisation. Their daily returns move barely together (correlation 0.11 across 179 shared trading days). Both have run at a similar volatility, around 100% annualised.
CNDRENDER
0.11over 179 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 | CND | RENDER |
|---|---|---|
| Max drawdown (400d) | -79.1% | -66.8% |
| Risk-adjusted return (90d) | -0.43 | 0.26 |
| Best 30 days (past year) | — | +82.4% |
| Worst 30 days (past year) | — | -49.7% |
Relative strength over 90 days: RENDER outperformed CND by 39.2% — measured on the CND/RENDER ratio, so it holds regardless of market direction.