Distributed Training vs Chutes

Chutes (SN64) is 31.3× the size of Distributed Training (SN38) by market capitalisation. Over the past 30 days, SN38 is ahead by 255.8 percentage points (SN38 +248.9% against SN64 -6.9%). Their daily returns move very closely together (correlation 0.91 across 23 shared trading days). SN38 has been the more volatile of the two, at 251% annualised against SN64's 141%.

Correlation: 0.91
Size ratio: 1 : 31.3
Ahead over 30 days: SN38

Distributed TrainingSN38

$1.4000

24h: +3.49%
Market cap: $3.09M
Volume 24h: $137,460
Volatility (ann.): 251%

ChutesSN64

$15.3000

24h: +3.61%
Market cap: $96.81M
Volume 24h: $194,610
Volatility (ann.): 141%

SN38 3.1%Share of the two combined market caps96.9% SN64

Performance

SN38SN64

7 days+79.73%-11.80%SN38
30 days+248.94%-6.90%SN38

Correlation

0.91over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN38	SN64
Max drawdown (400d)	-30.9%	-32.6%
Risk-adjusted return (90d)	0.99	0.00

Relative strength over 90 days: SN38 outperformed SN64 by 184.8% — measured on the SN38/SN64 ratio, so it holds regardless of market direction.

Distributed Training →Chutes →