Stacks (STX) is 876.5× the size of Mode (MODE) by market capitalisation. Over the past 1 year, STX is ahead by 90.9 percentage points (MODE -89.6% against STX +1.3%). Their daily returns move barely together (correlation 0.19 across 371 shared trading days). MODE has been the more volatile of the two, at 224% annualised against STX's 94%.
MODESTX
0.19over 371 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 | MODE | STX |
|---|---|---|
| Max drawdown (400d) | -97.4% | -80.9% |
| Risk-adjusted return (90d) | 0.55 | 1.48 |
| Best 30 days (past year) | +227.8% | +120.9% |
| Worst 30 days (past year) | -56.7% | -35.3% |
Relative strength over 90 days: MODE outperformed STX by 47.5% — measured on the MODE/STX ratio, so it holds regardless of market direction.