Codatta (XNY) is 934.6× the size of DPRating (RATING) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.13 across 32 shared trading days). RATING has been the more volatile of the two, at 166% annualised against XNY's 110%.
RATINGXNY
-0.13over 32 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 | RATING | XNY |
|---|---|---|
| Max drawdown (400d) | -94.6% | -25.2% |
| Risk-adjusted return (90d) | -0.45 | -0.16 |
Relative strength over 90 days: XNY outperformed RATING by 78.4% — measured on the RATING/XNY ratio, so it holds regardless of market direction.