Rain (RAIN) is 42661.4× the size of CrossSwap (CSWAP) by market capitalisation. Their daily returns move barely together (correlation 0.12 across 30 shared trading days). CSWAP has been the more volatile of the two, at 396% annualised against RAIN's 135%.
CSWAPRAIN
0.12over 30 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 | CSWAP | RAIN |
|---|---|---|
| Max drawdown (400d) | -89.0% | -69.3% |
| Risk-adjusted return (90d) | 0.01 | -0.40 |
Relative strength over 90 days: CSWAP outperformed RAIN by 139.0% — measured on the CSWAP/RAIN ratio, so it holds regardless of market direction.