Kite (KITE) is 8799.9× the size of Clawvatar (CLAWVATAR) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 121 shared trading days). CLAWVATAR has been the more volatile of the two, at 518% annualised against KITE's 121%.
CLAWVATARKITE
-0.02over 121 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 | CLAWVATAR | KITE |
|---|---|---|
| Max drawdown (400d) | -82.5% | -69.5% |
| Risk-adjusted return (90d) | 0.06 | 0.10 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: CLAWVATAR outperformed KITE by 74.4% — measured on the CLAWVATAR/KITE ratio, so it holds regardless of market direction.