SOON (SOON) is 9.6× the size of MWX Token (MWXT) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 45 shared trading days). SOON has been the more volatile of the two, at 145% annualised against MWXT's 90%.
MWXTSOON
0.19over 45 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 | MWXT | SOON |
|---|---|---|
| Max drawdown (400d) | -86.6% | -29.1% |
| Risk-adjusted return (90d) | -0.91 | 0.19 |
Relative strength over 90 days: SOON outperformed MWXT by 42.3% — measured on the MWXT/SOON ratio, so it holds regardless of market direction.