Gradients vs Targon

Targon (SN4) is 4.4× the size of Gradients (SN56) by market capitalisation. Over the past 30 days, SN56 is ahead by 28.5 percentage points (SN56 +23.9% against SN4 -4.6%). Their daily returns move very closely together (correlation 0.94 across 24 shared trading days). SN4 has been the more volatile of the two, at 134% annualised against SN56's 109%.

Correlation: 0.94
Size ratio: 1 : 4.4
Ahead over 30 days: SN56

GradientsSN56

$3.3000

24h: +0.03%
Market cap: $18.32M
Volume 24h: $69,694
Volatility (ann.): 109%

TargonSN4

$13.5600

24h: +3.74%
Market cap: $80.09M
Volume 24h: $837,133
Volatility (ann.): 134%

SN56 18.6%Share of the two combined market caps81.4% SN4

Performance

SN56SN4

7 days+0.00%-13.99%SN56
30 days+23.95%-4.59%SN56

Correlation

0.94over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN56	SN4
Max drawdown (400d)	-20.8%	-24.4%
Risk-adjusted return (90d)	0.22	0.17

Relative strength over 90 days: SN56 outperformed SN4 by 1.5% — measured on the SN56/SN4 ratio, so it holds regardless of market direction.

Gradients →Targon →