Venice Token (VVV) is 37600.5× the size of ForgeOracle (FORGE) by market capitalisation. Their daily returns move barely together (correlation 0.26 across 22 shared trading days). FORGE has been the more volatile of the two, at 679% annualised against VVV's 169%.
FORGEVVV
0.26over 22 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 | FORGE | VVV |
|---|---|---|
| Max drawdown (400d) | -89.6% | -29.6% |
| Risk-adjusted return (90d) | -0.55 | 0.50 |
Relative strength over 90 days: VVV outperformed FORGE by 47.0% — measured on the FORGE/VVV ratio, so it holds regardless of market direction.