Axie Infinity (AXS) is 121.1× the size of Katana Inu (KATA) by market capitalisation. Over the past 1 year, AXS is ahead by 40.3 percentage points (KATA -72.8% against AXS -32.5%). Their daily returns move barely together (correlation 0.05 across 373 shared trading days). KATA has been the more volatile of the two, at 188% annualised against AXS's 121%.
KATAAXS
0.05over 373 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 | KATA | AXS |
|---|---|---|
| Max drawdown (400d) | -88.8% | -72.0% |
| Risk-adjusted return (90d) | 0.34 | -0.04 |
| Best 30 days (past year) | +135.3% | +248.7% |
| Worst 30 days (past year) | -55.5% | -55.5% |
Relative strength over 90 days: KATA outperformed AXS by 132.3% — measured on the KATA/AXS ratio, so it holds regardless of market direction.