GoldPesa (GPX) and Rain (RAIN) compared side by side. Over the past 30 days, GPX is ahead by 40.2 percentage points (GPX -18.1% against RAIN -58.2%). Their daily returns move loosely together (correlation 0.37 across 23 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against GPX's 57%.
GPXRAIN
0.37over 23 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 | GPX | RAIN |
|---|---|---|
| Max drawdown (400d) | -28.9% | -68.5% |
| Risk-adjusted return (90d) | -0.51 | -0.37 |
Relative strength over 90 days: GPX outperformed RAIN by 22.0% — measured on the GPX/RAIN ratio, so it holds regardless of market direction.