Kite (KITE) is 16981.6× the size of Liminal Agent by Virtuals (LMNL) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 123 shared trading days). LMNL has been the more volatile of the two, at 210% annualised against KITE's 121%.
LMNLKITE
0.19over 123 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 | LMNL | KITE |
|---|---|---|
| Max drawdown (400d) | -80.6% | -69.5% |
| Risk-adjusted return (90d) | -0.40 | 0.13 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: KITE outperformed LMNL by 71.2% — measured on the LMNL/KITE ratio, so it holds regardless of market direction.