lium (SN51) is 53.1× the size of Ditto (SN118) by market capitalisation. Over the past 30 days, SN51 is ahead by 21.0 percentage points (SN118 -4.9% against SN51 +16.1%). Their daily returns move closely together (correlation 0.74 across 23 shared trading days). SN118 has been the more volatile of the two, at 179% annualised against SN51's 140%.
SN118SN51
0.74over 23 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 | SN118 | SN51 |
|---|---|---|
| Max drawdown (400d) | -34.9% | -19.1% |
| Risk-adjusted return (90d) | -0.03 | 0.59 |
Relative strength over 90 days: SN51 outperformed SN118 by 33.5% — measured on the SN118/SN51 ratio, so it holds regardless of market direction.