Merit vs EfficientFrontier

EfficientFrontier (SN53) is 15.8× the size of Merit (SN73) by market capitalisation. Over the past 30 days, SN73 is ahead by 4.2 percentage points (SN73 +26.9% against SN53 +22.7%). Their daily returns move barely together (correlation 0.25 across 27 shared trading days). SN53 has been the more volatile of the two, at 200% annualised against SN73's 120%.

Correlation: 0.25
Size ratio: 1 : 15.8
Ahead over 30 days: SN73

MeritSN73

$0.607220

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

EfficientFrontierSN53

$7.1100

24h: +0.62%
Market cap: $41.55M
Volume 24h: $2.60M
Volatility (ann.): 200%

SN73 6.0%Share of the two combined market caps94.0% SN53

Performance

SN73SN53

7 days-2.82%-14.51%SN73
30 days+26.92%+22.72%SN73

Correlation

0.25over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2590d: 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	SN53
Max drawdown (400d)	-26.3%	-40.6%
Risk-adjusted return (90d)	0.22	0.09

Relative strength over 90 days: SN53 outperformed SN73 by 2.7% — measured on the SN73/SN53 ratio, so it holds regardless of market direction.

Merit →EfficientFrontier →