Sei (SEI) is 11.7× the size of Fogo (FOGO) by market capitalisation. Over the past 1 year, SEI is ahead by 23.9 percentage points (FOGO -95.2% against SEI -71.3%). Their daily returns move loosely together (correlation 0.42 across 293 shared trading days). FOGO has been the more volatile of the two, at 111% annualised against SEI's 81%.
FOGOSEI
0.42over 293 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 | FOGO | SEI |
|---|---|---|
| Max drawdown (400d) | -95.2% | -87.2% |
| Risk-adjusted return (90d) | -0.74 | 0.17 |
| Best 30 days (past year) | — | +71.1% |
| Worst 30 days (past year) | — | -44.9% |
Relative strength over 90 days: SEI outperformed FOGO by 75.0% — measured on the FOGO/SEI ratio, so it holds regardless of market direction.