Venice Token (VVV) is 686.0× the size of Immunefi (IMU) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 41 shared trading days). IMU has been the more volatile of the two, at 328% annualised against VVV's 170%.
IMUVVV
-0.15over 41 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 | IMU | VVV |
|---|---|---|
| Max drawdown (400d) | -89.8% | -29.6% |
| Risk-adjusted return (90d) | 0.05 | 0.54 |
Relative strength over 90 days: VVV outperformed IMU by 63.4% — measured on the IMU/VVV ratio, so it holds regardless of market direction.