COCA (COCA) and Kaspa (KAS) compared side by side. Their daily returns move barely together (correlation 0.12 across 35 shared trading days). KAS has been the more volatile of the two, at 106% annualised against COCA's 60%.
COCAKAS
0.12over 35 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 | COCA | KAS |
|---|---|---|
| Max drawdown (400d) | -40.3% | -34.1% |
| Risk-adjusted return (90d) | -0.13 | 0.17 |
Relative strength over 90 days: KAS outperformed COCA by 48.8% — measured on the COCA/KAS ratio, so it holds regardless of market direction.