Arkham (ARKM) is 2.8× the size of HashKey Platform Token (HSK) by market capitalisation. Their daily returns move loosely together (correlation 0.43 across 52 shared trading days). ARKM has been the more volatile of the two, at 97% annualised against HSK's 46%.
HSKARKM
0.43over 52 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 | HSK | ARKM |
|---|---|---|
| Max drawdown (400d) | -20.1% | -84.7% |
| Risk-adjusted return (90d) | -0.39 | 0.23 |
| Best 30 days (past year) | — | +48.6% |
| Worst 30 days (past year) | — | -49.1% |
Relative strength over 90 days: ARKM outperformed HSK by 22.6% — measured on the HSK/ARKM ratio, so it holds regardless of market direction.