Flying Tulip vs Lighter

Lighter (LIT) is 15.2× the size of Flying Tulip (FT) by market capitalisation. Over the past 30 days, FT is ahead by 17.9 percentage points (FT +10.2% against LIT -7.6%). Their daily returns move loosely in opposite directions (correlation -0.45 across 23 shared trading days). Both have run at a similar volatility, around 118% annualised.

Correlation: -0.45
Size ratio: 1 : 15.2
Ahead over 30 days: FT

Flying TulipFT

$0.115174

24h: +3.14%
Market cap: $56.02M
Volume 24h: $74,422
Volatility (ann.): 116%

LighterLIT

$0.743000

24h: +1.01%
Market cap: $853.52M
Volume 24h: $136.73M
Volatility (ann.): 120%

FT 6.2%Share of the two combined market caps93.8% LIT

Performance

FTLIT

7 days-10.62%+11.51%LIT
30 days+10.23%-7.63%FT

Correlation

-0.45over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	FT	LIT
Max drawdown (400d)	-26.2%	-42.9%
Risk-adjusted return (90d)	0.11	-0.25

Relative strength over 90 days: FT outperformed LIT by 34.6% — measured on the FT/LIT ratio, so it holds regardless of market direction.

Flying Tulip →Lighter →