Virtuals Protocol (VIRTUAL) is 6395.4× the size of Cloudland (CLO) by market capitalisation. Their daily returns move loosely together (correlation 0.52 across 183 shared trading days). VIRTUAL has been the more volatile of the two, at 119% annualised against CLO's 76%.
CLOVIRTUAL
0.52over 183 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 | CLO | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -38.2% | -71.7% |
| Risk-adjusted return (90d) | 0.54 | 0.06 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: CLO outperformed VIRTUAL by 9.7% — measured on the CLO/VIRTUAL ratio, so it holds regardless of market direction.