FLOAT (FLOAT) is 134.3× the size of Eggu (EGGU) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 23 shared trading days). FLOAT has been the more volatile of the two, at 2418065% annualised against EGGU's 361%.
EGGUFLOAT
-0.02over 23 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 | EGGU | FLOAT |
|---|---|---|
| Max drawdown (400d) | -81.1% | -100.0% |
| Risk-adjusted return (90d) | 0.05 | 0.15 |
Relative strength over 90 days: FLOAT outperformed EGGU by 100.0% — measured on the EGGU/FLOAT ratio, so it holds regardless of market direction.