lium (SN51) is 42.0× the size of Coldint (SN29) by market capitalisation. Over the past 30 days, SN29 is ahead by 12.3 percentage points (SN29 +28.4% against SN51 +16.1%). Their daily returns move closely together (correlation 0.81 across 23 shared trading days). Both have run at a similar volatility, around 138% annualised.
SN29SN51
0.81over 23 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 | SN29 | SN51 |
|---|---|---|
| Max drawdown (400d) | -28.9% | -19.1% |
| Risk-adjusted return (90d) | 0.21 | 0.59 |
Relative strength over 90 days: SN51 outperformed SN29 by 9.9% — measured on the SN29/SN51 ratio, so it holds regardless of market direction.