Merit vs affine

affine (SN120) is 17.0× the size of Merit (SN73) by market capitalisation. Over the past 30 days, SN73 is ahead by 46.6 percentage points (SN73 +26.9% against SN120 -19.7%). Their daily returns move closely together (correlation 0.79 across 25 shared trading days). Both have run at a similar volatility, around 119% annualised.

Correlation: 0.79
Size ratio: 1 : 17.0
Ahead over 30 days: SN73

MeritSN73

$0.607220

24h: +0.35%
Market cap: $2.63M
Volume 24h: $9,500
Volatility (ann.): 120%

affineSN120

$10.0400

24h: +6.08%
Market cap: $44.66M
Volume 24h: $723,204
Volatility (ann.): 118%

SN73 5.6%Share of the two combined market caps94.4% SN120

Performance

SN73SN120

7 days-2.82%-13.26%SN73
30 days+26.92%-19.70%SN73

Correlation

0.79over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7990d: 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	SN73	SN120
Max drawdown (400d)	-26.3%	-37.7%
Risk-adjusted return (90d)	0.22	-0.16

Relative strength over 90 days: SN73 outperformed SN120 by 3.5% — measured on the SN73/SN120 ratio, so it holds regardless of market direction.

Merit →affine →