Rain (RAIN) is 487795.5× the size of legs.fun (LEGS) by market capitalisation. Over the past 30 days, LEGS is ahead by 17.2 percentage points (LEGS -39.4% against RAIN -56.5%). Their daily returns move barely together (correlation 0.34 across 24 shared trading days). Both have run at a similar volatility, around 128% annualised.
LEGSRAIN
0.34over 24 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 | LEGS | RAIN |
|---|---|---|
| Max drawdown (400d) | -46.4% | -69.3% |
| Risk-adjusted return (90d) | -0.32 | -0.39 |
Relative strength over 90 days: LEGS outperformed RAIN by 4.5% — measured on the LEGS/RAIN ratio, so it holds regardless of market direction.