Venice Token (VVV) is 33.8× the size of IoTeX (IOTX) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 60 shared trading days). VVV has been the more volatile of the two, at 168% annualised against IOTX's 92%.
IOTXVVV
0.23over 60 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 | IOTX | VVV |
|---|---|---|
| Max drawdown (400d) | -91.5% | -31.1% |
| Risk-adjusted return (90d) | 0.38 | 0.45 |
| Best 30 days (past year) | +41.6% | — |
| Worst 30 days (past year) | -43.7% | — |
Relative strength over 90 days: VVV outperformed IOTX by 32.6% — measured on the IOTX/VVV ratio, so it holds regardless of market direction.