The Interfold vs Railgun

Railgun (RAIL) is 9.8× the size of The Interfold (FOLD) by market capitalisation. Over the past 30 days, RAIL is ahead by 27.7 percentage points (FOLD -23.8% against RAIL +3.8%). Their daily returns move loosely together (correlation 0.44 across 33 shared trading days). Both have run at a similar volatility, around 156% annualised.

Correlation: 0.44
Size ratio: 1 : 9.8
Ahead over 30 days: RAIL

The InterfoldFOLD

$0.039570

24h: -4.63%
Market cap: $13.52M
Volume 24h: $1.72M
Volatility (ann.): 145%

RailgunRAIL

$2.2100

24h: +3.95%
Market cap: $132.46M
Volume 24h: $10,324
Volatility (ann.): 167%

FOLD 9.3%Share of the two combined market caps90.7% RAIL

Performance

FOLDRAIL

7 days-17.57%-12.20%RAIL
30 days-23.84%+3.85%RAIL

Correlation

0.44over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4590d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	FOLD	RAIL
Max drawdown (400d)	-56.9%	-26.3%
Risk-adjusted return (90d)	-0.36	0.32

Relative strength over 90 days: RAIL outperformed FOLD by 55.0% — measured on the FOLD/RAIL ratio, so it holds regardless of market direction.

The Interfold →Railgun →