FX1Sports (FXI) and Pieverse (PIEVERSE) compared side by side. Over the past 30 days, PIEVERSE is ahead by 3.9 percentage points (FXI -8.8% against PIEVERSE -4.9%). Their daily returns move loosely together (correlation 0.42 across 20 shared trading days). PIEVERSE has been the more volatile of the two, at 145% annualised against FXI's 79%.
FXIPIEVERSE
0.42over 20 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 | FXI | PIEVERSE |
|---|---|---|
| Max drawdown (400d) | -28.2% | -38.7% |
| Risk-adjusted return (90d) | -0.11 | 0.25 |
Relative strength over 90 days: PIEVERSE outperformed FXI by 2.5% — measured on the FXI/PIEVERSE ratio, so it holds regardless of market direction.