Medibloc (MED) is 26.7× the size of CTOC (CTOC) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 28 shared trading days). MED has been the more volatile of the two, at 72% annualised against CTOC's 11%.
CTOCMED
0.18over 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 | MED |
|---|---|---|
| Max drawdown (400d) | -2.5% | -75.6% |
| Risk-adjusted return (90d) | 0.02 | 0.33 |
Relative strength over 90 days: MED outperformed CTOC by 19.8% — measured on the CTOC/MED ratio, so it holds regardless of market direction.