HAVA (HAVA) is 2.3× the size of Galeon (GALEON) by market capitalisation. Over the past 30 days, HAVA is ahead by 31.5 percentage points (HAVA -1.4% against GALEON -32.9%). Their daily returns move loosely together (correlation 0.46 across 31 shared trading days). GALEON has been the more volatile of the two, at 104% annualised against HAVA's 5%.
HAVAGALEON
0.46over 31 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 | HAVA | GALEON |
|---|---|---|
| Max drawdown (400d) | -1.8% | -44.4% |
| Risk-adjusted return (90d) | -0.26 | -0.27 |
Relative strength over 90 days: GALEON outperformed HAVA by 0.8% — measured on the HAVA/GALEON ratio, so it holds regardless of market direction.