Kite (KITE) is 8123.3× the size of fomolt (FOMOLT) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 171 shared trading days). FOMOLT has been the more volatile of the two, at 299% annualised against KITE's 121%.
FOMOLTKITE
0.08over 171 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 | FOMOLT | KITE |
|---|---|---|
| Max drawdown (400d) | -97.4% | -69.5% |
| Risk-adjusted return (90d) | -0.48 | 0.10 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: KITE outperformed FOMOLT by 70.5% — measured on the FOMOLT/KITE ratio, so it holds regardless of market direction.