Filecoin (FIL) is 349.5× the size of Minima (MINIMA) by market capitalisation. Over the past 1 year, FIL is ahead by 31.4 percentage points (MINIMA -71.9% against FIL -40.5%). Their daily returns move barely together (correlation 0.06 across 363 shared trading days). MINIMA has been the more volatile of the two, at 155% annualised against FIL's 125%.
MINIMAFIL
0.06over 363 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 | MINIMA | FIL |
|---|---|---|
| Max drawdown (400d) | -81.3% | -81.4% |
| Risk-adjusted return (90d) | -0.05 | 0.19 |
| Best 30 days (past year) | — | +66.2% |
| Worst 30 days (past year) | — | -57.1% |
Relative strength over 90 days: FIL outperformed MINIMA by 36.7% — measured on the MINIMA/FIL ratio, so it holds regardless of market direction.