Liquidity vs affine

affine (SN120) is 7.2× the size of Liquidity (SN77) by market capitalisation. Over the past 30 days, SN77 is ahead by 30.4 percentage points (SN77 +10.7% against SN120 -19.7%). Their daily returns move closely together (correlation 0.84 across 26 shared trading days). SN120 has been the more volatile of the two, at 118% annualised against SN77's 102%.

Correlation: 0.84
Size ratio: 1 : 7.2
Ahead over 30 days: SN77

LiquiditySN77

$1.0370

24h: -0.20%
Market cap: $6.00M
Volume 24h: $1,200
Volatility (ann.): 102%

affineSN120

$9.7000

24h: +4.41%
Market cap: $43.12M
Volume 24h: $674,338
Volatility (ann.): 118%

SN77 12.2%Share of the two combined market caps87.8% SN120

Performance

SN77SN120

7 days-2.52%-13.26%SN77
30 days+10.71%-19.70%SN77

Correlation

0.84over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8490d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN77	SN120
Max drawdown (400d)	-21.2%	-37.7%
Risk-adjusted return (90d)	0.10	-0.16

Relative strength over 90 days: SN120 outperformed SN77 by 7.2% — measured on the SN77/SN120 ratio, so it holds regardless of market direction.

Liquidity →affine →