MEET48 (IDOL) is 2.1× the size of Velvet (VELVET) by market capitalisation. Their daily returns move barely together (correlation 0.22 across 40 shared trading days). IDOL has been the more volatile of the two, at 184% annualised against VELVET's 159%.
IDOLVELVET
0.22over 40 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 | IDOL | VELVET |
|---|---|---|
| Max drawdown (400d) | -80.3% | -53.5% |
| Risk-adjusted return (90d) | 0.10 | -0.29 |
| Best 30 days (past year) | +92.5% | — |
| Worst 30 days (past year) | -55.6% | — |
Relative strength over 90 days: IDOL outperformed VELVET by 153.1% — measured on the IDOL/VELVET ratio, so it holds regardless of market direction.