King DAG (KDAG) and Constellation (DAG) compared side by side. Over the past 30 days, DAG is ahead by 22.7 percentage points (KDAG -13.8% against DAG +8.9%). Their daily returns move loosely in opposite directions (correlation -0.38 across 25 shared trading days). KDAG has been the more volatile of the two, at 209% annualised against DAG's 116%.
KDAGDAG
-0.38over 25 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 | KDAG | DAG |
|---|---|---|
| Max drawdown (400d) | -34.6% | -25.6% |
| Risk-adjusted return (90d) | -0.07 | 0.07 |
Relative strength over 90 days: DAG outperformed KDAG by 31.4% — measured on the KDAG/DAG ratio, so it holds regardless of market direction.