eve (EVE) and Arclight Finance (ARCLIGHT) compared side by side. Over the past 30 days, ARCLIGHT is ahead by 0.7 percentage points (EVE -96.2% against ARCLIGHT -95.5%). Their daily returns move barely in opposite directions (correlation -0.09 across 42 shared trading days). ARCLIGHT has been the more volatile of the two, at 125275% annualised against EVE's 1692%.
$3.795e-5
EVEARCLIGHT
-0.09over 42 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 | EVE | ARCLIGHT |
|---|---|---|
| Max drawdown (400d) | -98.3% | -99.8% |
| Risk-adjusted return (90d) | -0.05 | 0.00 |
Relative strength over 90 days: EVE outperformed ARCLIGHT by 223.9% — measured on the EVE/ARCLIGHT ratio, so it holds regardless of market direction.