Immutable (IMX) is 3331.8× the size of Greyhound (GH) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 186 shared trading days). GH has been the more volatile of the two, at 178% annualised against IMX's 90%.
GHIMX
0.36over 186 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 | GH | IMX |
|---|---|---|
| Max drawdown (400d) | -98.3% | -87.2% |
| Risk-adjusted return (90d) | -0.42 | 0.13 |
| Best 30 days (past year) | — | +67.7% |
| Worst 30 days (past year) | — | -50.4% |
Relative strength over 90 days: IMX outperformed GH by 95.9% — measured on the GH/IMX ratio, so it holds regardless of market direction.