LUCA (LUCA) is 70.4× the size of Loud (LOUD) by market capitalisation. Their daily returns move closely together (correlation 0.60 across 30 shared trading days). LOUD has been the more volatile of the two, at 79% annualised against LUCA's 50%.
LOUDLUCA
0.60over 30 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 | LOUD | LUCA |
|---|---|---|
| Max drawdown (400d) | -57.2% | -24.3% |
| Risk-adjusted return (90d) | -0.05 | -0.08 |
Relative strength over 90 days: LUCA outperformed LOUD by 12.1% — measured on the LOUD/LUCA ratio, so it holds regardless of market direction.