Immutable (IMX) is 1251.0× the size of Gourmet Galaxy (GUM) by market capitalisation. Their daily returns move loosely together (correlation 0.58 across 183 shared trading days). GUM has been the more volatile of the two, at 126% annualised against IMX's 90%.
GUMIMX
0.58over 183 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 | GUM | IMX |
|---|---|---|
| Max drawdown (400d) | -84.0% | -87.2% |
| Risk-adjusted return (90d) | -0.45 | 0.13 |
| Best 30 days (past year) | — | +67.7% |
| Worst 30 days (past year) | — | -50.4% |
Relative strength over 90 days: IMX outperformed GUM by 77.0% — measured on the GUM/IMX ratio, so it holds regardless of market direction.