Merit vs Targon

Targon (SN4) is 30.7× the size of Merit (SN73) by market capitalisation. Over the past 30 days, SN73 is ahead by 31.5 percentage points (SN73 +26.9% against SN4 -4.6%). Their daily returns move very closely together (correlation 0.93 across 23 shared trading days). Both have run at a similar volatility, around 127% annualised.

Correlation: 0.93
Size ratio: 1 : 30.7
Ahead over 30 days: SN73

MeritSN73

$0.607220

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

TargonSN4

$13.6500

24h: +3.71%
Market cap: $80.61M
Volume 24h: $920,760
Volatility (ann.): 134%

SN73 3.2%Share of the two combined market caps96.8% SN4

Performance

SN73SN4

7 days-2.82%-13.99%SN73
30 days+26.92%-4.59%SN73

Correlation

0.93over 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	SN4
Max drawdown (400d)	-26.3%	-24.4%
Risk-adjusted return (90d)	0.22	0.17

Relative strength over 90 days: SN73 outperformed SN4 by 2.8% — measured on the SN73/SN4 ratio, so it holds regardless of market direction.

Merit →Targon →