Kite (KITE) is 7836.6× the size of Cra Agent (CRA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.20 across 28 shared trading days). CRA has been the more volatile of the two, at 430% annualised against KITE's 122%.
CRAKITE
-0.20over 28 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 | CRA | KITE |
|---|---|---|
| Max drawdown (400d) | -89.9% | -69.5% |
| Risk-adjusted return (90d) | -0.19 | 0.29 |
Relative strength over 90 days: KITE outperformed CRA by 77.6% — measured on the CRA/KITE ratio, so it holds regardless of market direction.