Concordium (CCD) is 3135.0× the size of FAME AI (FMC) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.11 across 29 shared trading days). Both have run at a similar volatility, around 117% annualised.
FMCCCD
-0.11over 29 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 | FMC | CCD |
|---|---|---|
| Max drawdown (400d) | -83.5% | -41.3% |
| Risk-adjusted return (90d) | -0.54 | -0.12 |
Relative strength over 90 days: CCD outperformed FMC by 52.8% — measured on the FMC/CCD ratio, so it holds regardless of market direction.