TROLL (TROLL) is 1347.2× the size of Morud (MORUD) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 28 shared trading days). TROLL has been the more volatile of the two, at 195% annualised against MORUD's 123%.
MORUDTROLL
0.41over 28 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 | MORUD | TROLL |
|---|---|---|
| Max drawdown (400d) | -63.7% | -61.0% |
| Risk-adjusted return (90d) | -0.13 | -0.21 |
Relative strength over 90 days: MORUD outperformed TROLL by 27.3% — measured on the MORUD/TROLL ratio, so it holds regardless of market direction.