Kite (KITE) is 5470.9× the size of Lobstar (LOBSTAR) by market capitalisation. Their daily returns move loosely together (correlation 0.48 across 39 shared trading days). LOBSTAR has been the more volatile of the two, at 158% annualised against KITE's 121%.
LOBSTARKITE
0.48over 39 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 | LOBSTAR | KITE |
|---|---|---|
| Max drawdown (400d) | -64.2% | -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 LOBSTAR by 61.2% — measured on the LOBSTAR/KITE ratio, so it holds regardless of market direction.