OriginTrail (TRAC) is 5214.2× the size of Halo (HALO) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 37 shared trading days). HALO has been the more volatile of the two, at 246% annualised against TRAC's 104%.
HALOTRAC
-0.03over 37 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 | HALO | TRAC |
|---|---|---|
| Max drawdown (400d) | -95.5% | -25.0% |
| Risk-adjusted return (90d) | -0.57 | 0.24 |
Relative strength over 90 days: TRAC outperformed HALO by 45.5% — measured on the HALO/TRAC ratio, so it holds regardless of market direction.