Artificial Superintelligence Alliance (FET) is 59150.2× the size of Mello AI (MELLO) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 162 shared trading days). MELLO has been the more volatile of the two, at 239% annualised against FET's 119%.
$0.148100
MELLOFET
0.45over 162 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 | MELLO | FET |
|---|---|---|
| Max drawdown (400d) | -94.8% | -79.7% |
| Risk-adjusted return (90d) | -0.37 | 0.04 |
| Best 30 days (past year) | — | +77.4% |
| Worst 30 days (past year) | — | -49.9% |
Relative strength over 90 days: FET outperformed MELLO by 80.5% — measured on the MELLO/FET ratio, so it holds regardless of market direction.