Artificial Superintelligence Alliance (FET) is 36360.5× the size of Leonardo AI (LEONAI) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 137 shared trading days). LEONAI has been the more volatile of the two, at 390% annualised against FET's 118%.
$0.149000
LEONAIFET
0.31over 137 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 | LEONAI | FET |
|---|---|---|
| Max drawdown (400d) | -76.8% | -80.0% |
| Risk-adjusted return (90d) | -0.22 | 0.18 |
| Best 30 days (past year) | — | +77.4% |
| Worst 30 days (past year) | — | -49.9% |
Relative strength over 90 days: FET outperformed LEONAI by 38.8% — measured on the LEONAI/FET ratio, so it holds regardless of market direction.