OriginTrail (TRAC) is 5080.9× the size of Molten (MOLTEN) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 40 shared trading days). MOLTEN has been the more volatile of the two, at 268% annualised against TRAC's 104%.
MOLTENTRAC
0.36over 40 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 | MOLTEN | TRAC |
|---|---|---|
| Max drawdown (400d) | -98.3% | -25.0% |
| Risk-adjusted return (90d) | 0.02 | 0.24 |
Relative strength over 90 days: TRAC outperformed MOLTEN by 16.1% — measured on the MOLTEN/TRAC ratio, so it holds regardless of market direction.