Energy Web Token (EWT) is 50.2× the size of Habitat (HABITAT) by market capitalisation. Their daily returns move loosely together (correlation 0.51 across 27 shared trading days). HABITAT has been the more volatile of the two, at 122% annualised against EWT's 97%.
HABITATEWT
0.51over 27 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 | HABITAT | EWT |
|---|---|---|
| Max drawdown (400d) | -85.4% | -21.1% |
| Risk-adjusted return (90d) | -0.13 | 0.01 |
Relative strength over 90 days: EWT outperformed HABITAT by 21.1% — measured on the HABITAT/EWT ratio, so it holds regardless of market direction.