Kite (KITE) is 5.0× the size of ONEchain (ONE) by market capitalisation. Over the past 1 year, KITE is ahead by 132.7 percentage points (ONE -78.4% against KITE +54.3%). Their daily returns move barely together (correlation 0.11 across 366 shared trading days). ONE has been the more volatile of the two, at 166% annualised against KITE's 121%.
ONEKITE
0.11over 366 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 | ONE | KITE |
|---|---|---|
| Max drawdown (400d) | -93.9% | -69.5% |
| Risk-adjusted return (90d) | -0.03 | 0.19 |
| Best 30 days (past year) | +470.7% | +151.2% |
| Worst 30 days (past year) | -65.2% | -55.6% |
Relative strength over 90 days: KITE outperformed ONE by 23.2% — measured on the ONE/KITE ratio, so it holds regardless of market direction.