Aster (ASTER) is 1574.8× the size of Kodiak Finance (KDK) by market capitalisation. Their daily returns move barely together (correlation 0.33 across 281 shared trading days). ASTER has been the more volatile of the two, at 90% annualised against KDK's 51%.
KDKASTER
0.33over 281 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 | KDK | ASTER |
|---|---|---|
| Max drawdown (400d) | -75.0% | -77.3% |
| Risk-adjusted return (90d) | -1.13 | 0.31 |
| Best 30 days (past year) | — | +47.6% |
| Worst 30 days (past year) | — | -51.6% |
Relative strength over 90 days: ASTER outperformed KDK by 37.6% — measured on the KDK/ASTER ratio, so it holds regardless of market direction.