OPENADS (OPENADS) and Arclight Finance (ARCLIGHT) compared side by side. Over the past 30 days, OPENADS is ahead by 51.3 percentage points (OPENADS -41.3% against ARCLIGHT -92.6%). Their daily returns move barely together (correlation 0.01 across 27 shared trading days). ARCLIGHT has been the more volatile of the two, at 126790% annualised against OPENADS's 374%.
$3.795e-5
OPENADSARCLIGHT
0.01over 27 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 | OPENADS | ARCLIGHT |
|---|---|---|
| Max drawdown (400d) | -47.2% | -99.8% |
| Risk-adjusted return (90d) | -0.11 | 0.00 |
Relative strength over 90 days: OPENADS outperformed ARCLIGHT by 419.7% — measured on the OPENADS/ARCLIGHT ratio, so it holds regardless of market direction.