Galatasaray Fan Token (GAL) is 92.5× the size of Clube Atlético Mineiro Fan Token (GALO) by market capitalisation. Their daily returns move barely together (correlation 0.04 across 31 shared trading days). GALO has been the more volatile of the two, at 46% annualised against GAL's 18%.
$0.011954
GALOGAL
0.04over 31 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 | GALO | GAL |
|---|---|---|
| Max drawdown (400d) | -64.2% | -14.7% |
| Risk-adjusted return (90d) | -0.71 | -0.82 |
Relative strength over 90 days: GAL outperformed GALO by 21.1% — measured on the GALO/GAL ratio, so it holds regardless of market direction.