Venice Token (VVV) is 34229.4× the size of Molten (MOLTEN) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 40 shared trading days). MOLTEN has been the more volatile of the two, at 268% annualised against VVV's 168%.
MOLTENVVV
0.34over 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 | VVV |
|---|---|---|
| Max drawdown (400d) | -98.3% | -31.1% |
| Risk-adjusted return (90d) | 0.02 | 0.45 |
Relative strength over 90 days: VVV outperformed MOLTEN by 39.2% — measured on the MOLTEN/VVV ratio, so it holds regardless of market direction.