affine (SN120) is 34.9× the size of Cognify (SN115) by market capitalisation. Over the past 30 days, SN115 is ahead by 40.2 percentage points (SN115 +20.5% against SN120 -19.7%). Their daily returns move closely together (correlation 0.84 across 24 shared trading days). Both have run at a similar volatility, around 116% annualised.
SN115SN120
0.84over 24 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 | SN115 | SN120 |
|---|---|---|
| Max drawdown (400d) | -29.5% | -37.7% |
| Risk-adjusted return (90d) | 0.18 | -0.16 |
Relative strength over 90 days: SN120 outperformed SN115 by 3.7% — measured on the SN115/SN120 ratio, so it holds regardless of market direction.