Giant Mammoth (GMMT) and Optimism (OP) compared side by side. Over the past 1 year, OP is ahead by 9.8 percentage points (GMMT -77.8% against OP -68.1%). Their daily returns move barely together (correlation 0.08 across 362 shared trading days). GMMT has been the more volatile of the two, at 190% annualised against OP's 100%.
GMMTOP
0.08over 362 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 | GMMT | OP |
|---|---|---|
| Max drawdown (400d) | -78.3% | -89.2% |
| Risk-adjusted return (90d) | -0.32 | 0.24 |
| Best 30 days (past year) | — | +67.2% |
| Worst 30 days (past year) | — | -60.5% |
Relative strength over 90 days: OP outperformed GMMT by 50.4% — measured on the GMMT/OP ratio, so it holds regardless of market direction.