Kite (KITE) is 8576.9× the size of DEGA (DEGA) by market capitalisation. Their daily returns move barely together (correlation 0.01 across 123 shared trading days). DEGA has been the more volatile of the two, at 160% annualised against KITE's 121%.
DEGAKITE
0.01over 123 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 | DEGA | KITE |
|---|---|---|
| Max drawdown (400d) | -90.3% | -69.5% |
| Risk-adjusted return (90d) | -0.35 | 0.10 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: KITE outperformed DEGA by 59.9% — measured on the DEGA/KITE ratio, so it holds regardless of market direction.