Merit vs Chutes

Chutes (SN64) is 38.3× the size of Merit (SN73) by market capitalisation. Over the past 30 days, SN73 is ahead by 33.8 percentage points (SN73 +26.9% against SN64 -6.9%). Their daily returns move very closely together (correlation 0.92 across 23 shared trading days). SN64 has been the more volatile of the two, at 141% annualised against SN73's 120%.

Correlation: 0.92
Size ratio: 1 : 38.3
Ahead over 30 days: SN73

MeritSN73

$0.607220

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

ChutesSN64

$15.9200

24h: +5.50%
Market cap: $100.74M
Volume 24h: $362,901
Volatility (ann.): 141%

SN73 2.5%Share of the two combined market caps97.5% SN64

Performance

SN73SN64

7 days-2.82%-11.80%SN73
30 days+26.92%-6.90%SN73

Correlation

0.92over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	SN64
Max drawdown (400d)	-26.3%	-32.6%
Risk-adjusted return (90d)	0.22	0.00

Relative strength over 90 days: SN73 outperformed SN64 by 6.1% — measured on the SN73/SN64 ratio, so it holds regardless of market direction.

Merit →Chutes →