Illuvium (ILV) is 33.8× the size of Guild of Guardians (GOG) by market capitalisation. Over the past 1 year, ILV is ahead by 19.2 percentage points (GOG -87.9% against ILV -68.7%). Their daily returns move barely together (correlation 0.32 across 373 shared trading days). Both have run at a similar volatility, around 91% annualised.
GOGILV
0.32over 373 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 | GOG | ILV |
|---|---|---|
| Max drawdown (400d) | -88.8% | -83.2% |
| Risk-adjusted return (90d) | -0.76 | 0.03 |
| Best 30 days (past year) | +40.1% | +45.3% |
| Worst 30 days (past year) | -59.3% | -44.4% |
Relative strength over 90 days: ILV outperformed GOG by 55.6% — measured on the GOG/ILV ratio, so it holds regardless of market direction.