KellyClaude (KELLYCLAUDE) is 22.3× the size of Foundry (FDRY) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 27 shared trading days). FDRY has been the more volatile of the two, at 248% annualised against KELLYCLAUDE's 176%.
FDRYKELLYCLAUDE
0.19over 27 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 | FDRY | KELLYCLAUDE |
|---|---|---|
| Max drawdown (400d) | -97.0% | -59.9% |
| Risk-adjusted return (90d) | -0.40 | -0.27 |
Relative strength over 90 days: FDRY outperformed KELLYCLAUDE by 47.0% — measured on the FDRY/KELLYCLAUDE ratio, so it holds regardless of market direction.