PHALA (PHA) is 19.1× the size of OORT (OORT) by market capitalisation. Over the past 1 year, PHA is ahead by 68.8 percentage points (OORT -96.9% against PHA -28.1%). Their daily returns move barely together (correlation 0.09 across 366 shared trading days). OORT has been the more volatile of the two, at 184% annualised against PHA's 148%.
OORTPHA
0.09over 366 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 | OORT | PHA |
|---|---|---|
| Max drawdown (400d) | -98.4% | -81.3% |
| Risk-adjusted return (90d) | -0.20 | 0.35 |
| Best 30 days (past year) | +188.3% | +233.5% |
| Worst 30 days (past year) | -80.9% | -51.3% |
Relative strength over 90 days: PHA outperformed OORT by 72.6% — measured on the OORT/PHA ratio, so it holds regardless of market direction.