Matrixdock Gold vs Kinesis Silver

Kinesis Silver (KAG) is 2.7× the size of Matrixdock Gold (XAUM) by market capitalisation. Over the past 30 days, XAUM is ahead by 11.7 percentage points (XAUM -9.5% against KAG -21.3%). Their daily returns move barely in opposite directions (correlation -0.01 across 53 shared trading days). KAG has been the more volatile of the two, at 200% annualised against XAUM's 22%.

Correlation: -0.01
Size ratio: 1 : 2.7
Ahead over 30 days: XAUM

Matrixdock GoldXAUM

$4,056.13

24h: +3.24%
Market cap: $70.41M
Volume 24h: $403,290
Volatility (ann.): 22%

Kinesis SilverKAG

$52.6000

24h: +5.59%
Market cap: $193.27M
Volume 24h: $334,577
Volatility (ann.): 200%

XAUM 26.7%Share of the two combined market caps73.3% KAG

Performance

XAUMKAG

7 days-3.15%-8.47%XAUM
30 days-9.53%-21.26%XAUM

Correlation

-0.01over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6090d: 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	XAUM	KAG
Max drawdown (400d)	-16.5%	-36.6%
Risk-adjusted return (90d)	-0.56	-0.12

Relative strength over 90 days: XAUM outperformed KAG by 17.2% — measured on the XAUM/KAG ratio, so it holds regardless of market direction.

Matrixdock Gold →Kinesis Silver →