HAVA (HAVA) is 14.1× the size of CTOC (CTOC) by market capitalisation. Over the past 30 days, CTOC is ahead by 1.4 percentage points (CTOC +0.0% against HAVA -1.4%). Their daily returns move barely together (correlation 0.14 across 28 shared trading days). CTOC has been the more volatile of the two, at 11% annualised against HAVA's 5%.
CTOCHAVA
0.14over 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 | CTOC | HAVA |
|---|---|---|
| Max drawdown (400d) | -2.5% | -1.8% |
| Risk-adjusted return (90d) | 0.02 | -0.26 |
Relative strength over 90 days: CTOC outperformed HAVA by 1.6% — measured on the CTOC/HAVA ratio, so it holds regardless of market direction.