SSV Network (SSV) is 126.9× the size of Lair (LAIR) by market capitalisation. Over the past 1 year, SSV is ahead by 46.2 percentage points (LAIR -85.4% against SSV -39.3%). Their daily returns move barely together (correlation 0.34 across 363 shared trading days). Both have run at a similar volatility, around 96% annualised.
LAIRSSV
0.34over 363 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 | LAIR | SSV |
|---|---|---|
| Max drawdown (400d) | -86.8% | -77.0% |
| Risk-adjusted return (90d) | -0.71 | 0.18 |
| Best 30 days (past year) | — | +48.7% |
| Worst 30 days (past year) | — | -42.4% |
Relative strength over 90 days: SSV outperformed LAIR by 57.4% — measured on the LAIR/SSV ratio, so it holds regardless of market direction.