YZY (YZY) is 64.7× the size of Energy ($NRG) by market capitalisation. Over the past 30 days, YZY is ahead by 48.8 percentage points ($NRG -46.8% against YZY +2.0%). Their daily returns move barely together (correlation 0.04 across 32 shared trading days). $NRG has been the more volatile of the two, at 138% annualised against YZY's 27%.
$NRGYZY
0.04over 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 | $NRG | YZY |
|---|---|---|
| Max drawdown (400d) | -54.8% | -2.2% |
| Risk-adjusted return (90d) | -0.39 | 0.07 |
Relative strength over 90 days: YZY outperformed $NRG by 55.2% — measured on the $NRG/YZY ratio, so it holds regardless of market direction.