DragonX.win (DRAGONX) and Lighter (LIT) compared side by side. Over the past 30 days, LIT is ahead by 5.4 percentage points (DRAGONX -13.0% against LIT -7.6%). Their daily returns move barely together (correlation 0.31 across 34 shared trading days). LIT has been the more volatile of the two, at 120% annualised against DRAGONX's 100%.
DRAGONXLIT
0.31over 34 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 | DRAGONX | LIT |
|---|---|---|
| Max drawdown (400d) | -18.7% | -42.9% |
| Risk-adjusted return (90d) | -0.12 | -0.25 |
Relative strength over 90 days: LIT outperformed DRAGONX by 1.2% — measured on the DRAGONX/LIT ratio, so it holds regardless of market direction.