Arkham (ARKM) is 45.6× the size of MCNCOIN (MCN) by market capitalisation. Over the past 1 year, MCN is ahead by 23.4 percentage points (MCN -38.3% against ARKM -61.7%). Their daily returns move barely together (correlation 0.14 across 369 shared trading days). MCN has been the more volatile of the two, at 216% annualised against ARKM's 97%.
MCNARKM
0.14over 369 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 | MCN | ARKM |
|---|---|---|
| Max drawdown (400d) | -82.5% | -84.7% |
| Risk-adjusted return (90d) | 0.05 | 0.23 |
| Best 30 days (past year) | +214.0% | +48.6% |
| Worst 30 days (past year) | -64.0% | -49.1% |
Relative strength over 90 days: MCN outperformed ARKM by 20.1% — measured on the MCN/ARKM ratio, so it holds regardless of market direction.