affine (SN120) is 2.8× the size of OMEGA Labs (SN24) by market capitalisation. Over the past 30 days, SN24 is ahead by 65.9 percentage points (SN24 +50.7% against SN120 -15.2%). Their daily returns move loosely together (correlation 0.46 across 26 shared trading days). Both have run at a similar volatility, around 114% annualised.
SN24SN120
0.46over 26 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 | SN24 | SN120 |
|---|---|---|
| Max drawdown (400d) | -11.3% | -37.7% |
| Risk-adjusted return (90d) | 0.46 | -0.13 |
Relative strength over 90 days: SN24 outperformed SN120 by 26.3% — measured on the SN24/SN120 ratio, so it holds regardless of market direction.