Arbitrum (ARB) is 490.9× the size of KONET (KONET) by market capitalisation. Over the past 1 year, KONET is ahead by 46.4 percentage points (KONET +6.9% against ARB -39.5%). Their daily returns move barely in opposite directions (correlation -0.01 across 364 shared trading days). KONET has been the more volatile of the two, at 168% annualised against ARB's 103%.
KONETARB
-0.01over 364 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 | KONET | ARB |
|---|---|---|
| Max drawdown (400d) | -74.2% | -84.1% |
| Risk-adjusted return (90d) | -0.18 | 0.66 |
| Best 30 days (past year) | — | +157.6% |
| Worst 30 days (past year) | — | -51.6% |
Relative strength over 90 days: ARB outperformed KONET by 74.8% — measured on the KONET/ARB ratio, so it holds regardless of market direction.