EARPODS (EARPODS) and Aero (AERO) compared side by side. Their daily returns move barely together (correlation 0.29 across 22 shared trading days). EARPODS has been the more volatile of the two, at 354% annualised against AERO's 100%.
EARPODSAERO
0.29over 22 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 | EARPODS | AERO |
|---|---|---|
| Max drawdown (400d) | -67.8% | -42.3% |
| Risk-adjusted return (90d) | -0.15 | 0.30 |
Relative strength over 90 days: AERO outperformed EARPODS by 29.9% — measured on the EARPODS/AERO ratio, so it holds regardless of market direction.