Filecoin (FIL) is 592.2× the size of Fluence (FLT) by market capitalisation. Over the past 1 year, FIL is ahead by 46.4 percentage points (FLT -86.9% against FIL -40.5%). Their daily returns move barely together (correlation 0.13 across 373 shared trading days). FLT has been the more volatile of the two, at 155% annualised against FIL's 125%.
FLTFIL
0.13over 373 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 | FLT | FIL |
|---|---|---|
| Max drawdown (400d) | -96.6% | -81.4% |
| Risk-adjusted return (90d) | 0.31 | 0.19 |
| Best 30 days (past year) | +386.0% | +66.2% |
| Worst 30 days (past year) | -77.1% | -57.1% |
Relative strength over 90 days: FLT outperformed FIL by 69.1% — measured on the FLT/FIL ratio, so it holds regardless of market direction.