Jupiter (JUP) is 407.4× the size of Hyperion (RION) by market capitalisation. Over the past 1 year, JUP is ahead by 31.8 percentage points (RION -63.1% against JUP -31.3%). Their daily returns move barely together (correlation 0.24 across 364 shared trading days). Both have run at a similar volatility, around 104% annualised.
RIONJUP
0.24over 364 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 | RION | JUP |
|---|---|---|
| Max drawdown (400d) | -70.7% | -70.9% |
| Risk-adjusted return (90d) | -0.22 | 0.29 |
| Best 30 days (past year) | — | +68.3% |
| Worst 30 days (past year) | — | -41.5% |
Relative strength over 90 days: JUP outperformed RION by 32.9% — measured on the RION/JUP ratio, so it holds regardless of market direction.