Graphite vs affine

affine (SN120) is 9.2× the size of Graphite (SN43) by market capitalisation. Over the past 30 days, SN43 is ahead by 23.1 percentage points (SN43 +3.4% against SN120 -19.7%). Their daily returns move closely together (correlation 0.80 across 26 shared trading days). Both have run at a similar volatility, around 115% annualised.

Correlation: 0.80
Size ratio: 1 : 9.2
Ahead over 30 days: SN43

GraphiteSN43

$0.888533

24h: -0.10%
Market cap: $4.71M
Volume 24h: $128
Volatility (ann.): 112%

affineSN120

$9.7000

24h: +2.10%
Market cap: $43.15M
Volume 24h: $701,587
Volatility (ann.): 118%

SN43 9.8%Share of the two combined market caps90.2% SN120

Performance

SN43SN120

7 days-7.58%-13.26%SN43
30 days+3.39%-19.70%SN43

Correlation

0.80over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8090d: 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	SN43	SN120
Max drawdown (400d)	-21.7%	-37.7%
Risk-adjusted return (90d)	0.03	-0.16

Relative strength over 90 days: SN120 outperformed SN43 by 13.4% — measured on the SN43/SN120 ratio, so it holds regardless of market direction.

Graphite →affine →