Flight Coin (FLIGHT) and Rain (RAIN) compared side by side. Over the past 30 days, FLIGHT is ahead by 35.8 percentage points (FLIGHT -22.4% against RAIN -58.2%). Their daily returns move barely together (correlation 0.08 across 23 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against FLIGHT's 27%.
FLIGHTRAIN
0.08over 23 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 | FLIGHT | RAIN |
|---|---|---|
| Max drawdown (400d) | -22.4% | -68.5% |
| Risk-adjusted return (90d) | -0.83 | -0.37 |
Relative strength over 90 days: FLIGHT outperformed RAIN by 22.5% — measured on the FLIGHT/RAIN ratio, so it holds regardless of market direction.