Embow (EMBOW) and Aero (AERO) compared side by side. Their daily returns move barely together (correlation 0.00 across 25 shared trading days). EMBOW has been the more volatile of the two, at 246% annualised against AERO's 100%.
EMBOWAERO
0.00over 25 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 | EMBOW | AERO |
|---|---|---|
| Max drawdown (400d) | -82.5% | -42.3% |
| Risk-adjusted return (90d) | -0.34 | 0.30 |
Relative strength over 90 days: AERO outperformed EMBOW by 74.5% — measured on the EMBOW/AERO ratio, so it holds regardless of market direction.