Quant (QNT) is 108.1× the size of Obligate Trade Finance Yield (OTFY) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 43 shared trading days). QNT has been the more volatile of the two, at 128% annualised against OTFY's 2%.
$1.0260
OTFYQNT
0.34over 43 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 | OTFY | QNT |
|---|---|---|
| Max drawdown (400d) | -0.1% | -47.6% |
| Risk-adjusted return (90d) | 0.87 | 0.95 |
| Best 30 days (past year) | — | +369.8% |
| Worst 30 days (past year) | — | -33.0% |
Relative strength over 90 days: QNT outperformed OTFY by 66.6% — measured on the OTFY/QNT ratio, so it holds regardless of market direction.