OriginTrail (TRAC) is 13152.4× the size of Kogin by Virtuals (KOGIN) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 20 shared trading days). KOGIN has been the more volatile of the two, at 124% annualised against TRAC's 104%.
KOGINTRAC
0.40over 20 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 | KOGIN | TRAC |
|---|---|---|
| Max drawdown (400d) | -74.7% | -22.2% |
| Risk-adjusted return (90d) | -0.46 | 0.33 |
Relative strength over 90 days: TRAC outperformed KOGIN by 38.7% — measured on the KOGIN/TRAC ratio, so it holds regardless of market direction.