Axie Infinity (AXS) is 243.2× the size of STEPN Green Satoshi Token on Solana (GST-SOL) by market capitalisation. Their daily returns move loosely together (correlation 0.47 across 39 shared trading days). GST-SOL has been the more volatile of the two, at 179% annualised against AXS's 121%.
$0.000544
GST-SOLAXS
0.47over 39 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 | GST-SOL | AXS |
|---|---|---|
| Max drawdown (400d) | -58.1% | -72.0% |
| Risk-adjusted return (90d) | -0.32 | -0.04 |
| Best 30 days (past year) | — | +248.7% |
| Worst 30 days (past year) | — | -55.5% |
Relative strength over 90 days: AXS outperformed GST-SOL by 55.0% — measured on the GST-SOL/AXS ratio, so it holds regardless of market direction.