Virtuals Protocol (VIRTUAL) is 12346.5× the size of Clawvatar (CLAWVATAR) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 121 shared trading days). CLAWVATAR has been the more volatile of the two, at 518% annualised against VIRTUAL's 119%.
CLAWVATARVIRTUAL
0.09over 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 | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -82.5% | -71.7% |
| Risk-adjusted return (90d) | 0.06 | 0.00 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: CLAWVATAR outperformed VIRTUAL by 65.6% — measured on the CLAWVATAR/VIRTUAL ratio, so it holds regardless of market direction.