Quant (QNT) is 103061.8× the size of EYWA (EYWA) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 100 shared trading days). EYWA has been the more volatile of the two, at 332% annualised against QNT's 128%.
EYWAQNT
0.02over 100 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 | EYWA | QNT |
|---|---|---|
| Max drawdown (400d) | -73.8% | -47.6% |
| Risk-adjusted return (90d) | -0.12 | 1.04 |
| Best 30 days (past year) | — | +369.8% |
| Worst 30 days (past year) | — | -33.0% |
Relative strength over 90 days: QNT outperformed EYWA by 83.4% — measured on the EYWA/QNT ratio, so it holds regardless of market direction.