The Sandbox (SAND) is 88.8× the size of GemHUB (GHUB) by market capitalisation. Over the past 1 year, SAND is ahead by 10.7 percentage points (GHUB -85.6% against SAND -74.8%). Their daily returns move barely together (correlation 0.28 across 363 shared trading days). SAND has been the more volatile of the two, at 103% annualised against GHUB's 57%.
GHUBSAND
0.28over 363 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 | GHUB | SAND |
|---|---|---|
| Max drawdown (400d) | -89.6% | -88.4% |
| Risk-adjusted return (90d) | 0.30 | 0.07 |
| Best 30 days (past year) | — | +94.1% |
| Worst 30 days (past year) | — | -48.8% |
Relative strength over 90 days: GHUB outperformed SAND by 21.3% — measured on the GHUB/SAND ratio, so it holds regardless of market direction.