SynFutures (F) is 5.9× the size of Fake World Assets (FWA) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 42 shared trading days). FWA has been the more volatile of the two, at 359% annualised against F's 109%.
FWAF
0.36over 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 | FWA | F |
|---|---|---|
| Max drawdown (400d) | -80.2% | -87.9% |
| Risk-adjusted return (90d) | -0.20 | -0.02 |
| Best 30 days (past year) | — | +88.0% |
| Worst 30 days (past year) | — | -46.3% |
Relative strength over 90 days: F outperformed FWA by 65.8% — measured on the FWA/F ratio, so it holds regardless of market direction.