Rain (RAIN) is 56765.6× the size of Donut (DONUT) by market capitalisation. Over the past 30 days, DONUT is ahead by 54.2 percentage points (DONUT -6.8% against RAIN -61.0%). Their daily returns move barely together (correlation 0.25 across 27 shared trading days). Both have run at a similar volatility, around 128% annualised.
DONUTRAIN
0.25over 27 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 | DONUT | RAIN |
|---|---|---|
| Max drawdown (400d) | -44.6% | -69.3% |
| Risk-adjusted return (90d) | -0.32 | -0.40 |
Relative strength over 90 days: DONUT outperformed RAIN by 69.6% — measured on the DONUT/RAIN ratio, so it holds regardless of market direction.