Celestia (TIA) is 16.3× the size of Hemi (HEMI) by market capitalisation. Over the past 1 year, TIA is ahead by 40.5 percentage points (HEMI -86.9% against TIA -46.4%). Their daily returns move barely together (correlation 0.26 across 399 shared trading days). HEMI has been the more volatile of the two, at 148% annualised against TIA's 112%.
HEMITIA
0.26over 399 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 | HEMI | TIA |
|---|---|---|
| Max drawdown (400d) | -96.0% | -81.6% |
| Risk-adjusted return (90d) | -0.04 | 0.23 |
| Best 30 days (past year) | +251.0% | +101.4% |
| Worst 30 days (past year) | -63.3% | -47.6% |
Relative strength over 90 days: TIA outperformed HEMI by 27.9% — measured on the HEMI/TIA ratio, so it holds regardless of market direction.