Virtuals Protocol (VIRTUAL) is 7832.6× the size of Fishwar (FISHW) by market capitalisation. Over the past 1 year, VIRTUAL is ahead by 33.0 percentage points (FISHW -92.6% against VIRTUAL -59.5%). Their daily returns move barely together (correlation 0.10 across 362 shared trading days). FISHW has been the more volatile of the two, at 139% annualised against VIRTUAL's 119%.
FISHWVIRTUAL
0.10over 362 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 | FISHW | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -93.0% | -71.7% |
| Risk-adjusted return (90d) | -0.44 | 0.00 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed FISHW by 51.1% — measured on the FISHW/VIRTUAL ratio, so it holds regardless of market direction.