Starknet (STRK) is 12.1× the size of Treasure (MAGIC) by market capitalisation. Over the past 1 year, MAGIC is ahead by 29.5 percentage points (MAGIC -30.3% against STRK -59.8%). Their daily returns move loosely together (correlation 0.45 across 399 shared trading days). Both have run at a similar volatility, around 136% annualised.
MAGICSTRK
0.45over 399 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 | MAGIC | STRK |
|---|---|---|
| Max drawdown (400d) | -78.5% | -91.0% |
| Risk-adjusted return (90d) | 0.47 | 0.33 |
| Best 30 days (past year) | +217.8% | +329.9% |
| Worst 30 days (past year) | -43.8% | -66.4% |
Relative strength over 90 days: MAGIC outperformed STRK by 18.8% — measured on the MAGIC/STRK ratio, so it holds regardless of market direction.