Graphite vs Targon

Targon (SN4) is 16.6× the size of Graphite (SN43) by market capitalisation. Over the past 30 days, SN43 is ahead by 8.0 percentage points (SN43 +3.4% 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 SN43's 112%.

Correlation: 0.94
Size ratio: 1 : 16.6
Ahead over 30 days: SN43

GraphiteSN43

$0.888533

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

TargonSN4

$13.2200

24h: -0.21%
Market cap: $78.07M
Volume 24h: $901,762
Volatility (ann.): 134%

SN43 5.7%Share of the two combined market caps94.3% SN4

Performance

SN43SN4

7 days-7.58%-13.99%SN43
30 days+3.39%-4.59%SN43

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	SN43	SN4
Max drawdown (400d)	-21.7%	-24.4%
Risk-adjusted return (90d)	0.03	0.17

Relative strength over 90 days: SN4 outperformed SN43 by 15.3% — measured on the SN43/SN4 ratio, so it holds regardless of market direction.

Graphite →Targon →