The Sandbox (SAND) is 26.5× the size of OPENLOOT (OL) by market capitalisation. Over the past 1 year, SAND is ahead by 7.4 percentage points (OL -82.3% against SAND -74.8%). Their daily returns move loosely together (correlation 0.45 across 370 shared trading days). OL has been the more volatile of the two, at 141% annualised against SAND's 103%.
OLSAND
0.45over 370 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 | OL | SAND |
|---|---|---|
| Max drawdown (400d) | -89.5% | -88.4% |
| Risk-adjusted return (90d) | 0.18 | 0.07 |
| Best 30 days (past year) | +64.2% | +94.1% |
| Worst 30 days (past year) | -52.3% | -48.8% |
Relative strength over 90 days: OL outperformed SAND by 30.8% — measured on the OL/SAND ratio, so it holds regardless of market direction.