Venice Token (VVV) is 12767.1× the size of Cindicator (CND) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.19 across 22 shared trading days). VVV has been the more volatile of the two, at 169% annualised against CND's 106%.
CNDVVV
-0.19over 22 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 | VVV |
|---|---|---|
| Max drawdown (400d) | -79.1% | -29.6% |
| Risk-adjusted return (90d) | -0.43 | 0.50 |
Relative strength over 90 days: VVV outperformed CND by 69.0% — measured on the CND/VVV ratio, so it holds regardless of market direction.