Hedron (HDRN) and Rain (RAIN) compared side by side. Over the past 30 days, HDRN is ahead by 13.2 percentage points (HDRN -45.1% against RAIN -58.2%). Their daily returns move barely together (correlation 0.25 across 21 shared trading days). HDRN has been the more volatile of the two, at 263% annualised against RAIN's 134%.
HDRNRAIN
0.25over 21 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 | HDRN | RAIN |
|---|---|---|
| Max drawdown (400d) | -65.5% | -68.5% |
| Risk-adjusted return (90d) | -0.17 | -0.37 |
Relative strength over 90 days: RAIN outperformed HDRN by 13.4% — measured on the HDRN/RAIN ratio, so it holds regardless of market direction.