The Sandbox (SAND) is 175.6× the size of Guild of Guardians (GOG) by market capitalisation. Over the past 1 year, SAND is ahead by 13.1 percentage points (GOG -87.9% against SAND -74.8%). Their daily returns move barely together (correlation 0.32 across 373 shared trading days). Both have run at a similar volatility, around 98% annualised.
GOGSAND
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 | SAND |
|---|---|---|
| Max drawdown (400d) | -88.8% | -88.4% |
| Risk-adjusted return (90d) | -0.76 | 0.07 |
| Best 30 days (past year) | +40.1% | +94.1% |
| Worst 30 days (past year) | -59.3% | -48.8% |
Relative strength over 90 days: SAND outperformed GOG by 55.4% — measured on the GOG/SAND ratio, so it holds regardless of market direction.