Kite (KITE) is 1192.2× the size of Olyn by Virtuals (OLYN) by market capitalisation. Their daily returns move barely together (correlation 0.17 across 179 shared trading days). OLYN has been the more volatile of the two, at 150% annualised against KITE's 121%.
OLYNKITE
0.17over 179 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 | OLYN | KITE |
|---|---|---|
| Max drawdown (400d) | -78.7% | -69.5% |
| Risk-adjusted return (90d) | 0.07 | 0.13 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: OLYN outperformed KITE by 102.7% — measured on the OLYN/KITE ratio, so it holds regardless of market direction.