Render (RENDER) is 1650.7× the size of Hivello (HVLO) by market capitalisation. Over the past 1 year, RENDER is ahead by 61.7 percentage points (HVLO -87.2% against RENDER -25.5%). Their daily returns move barely together (correlation 0.16 across 373 shared trading days). HVLO has been the more volatile of the two, at 120% annualised against RENDER's 95%.
HVLORENDER
0.16over 373 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 | HVLO | RENDER |
|---|---|---|
| Max drawdown (400d) | -93.5% | -66.8% |
| Risk-adjusted return (90d) | -0.27 | 0.17 |
| Best 30 days (past year) | +101.4% | +82.4% |
| Worst 30 days (past year) | -65.7% | -49.7% |
Relative strength over 90 days: RENDER outperformed HVLO by 35.6% — measured on the HVLO/RENDER ratio, so it holds regardless of market direction.