XRP (XRP) is 929410.7× the size of Karat (KAT) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 167 shared trading days). KAT has been the more volatile of the two, at 1278% annualised against XRP's 65%.
KATXRP
-0.04over 167 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 | KAT | XRP |
|---|---|---|
| Max drawdown (400d) | -99.0% | -67.3% |
| Risk-adjusted return (90d) | -0.30 | 0.37 |
| Best 30 days (past year) | — | +41.9% |
| Worst 30 days (past year) | — | -47.3% |
Relative strength over 90 days: XRP outperformed KAT by 87.5% — measured on the KAT/XRP ratio, so it holds regardless of market direction.