OpenKaito vs Targon

Targon (SN4) is 6.4× the size of OpenKaito (SN5) by market capitalisation. Over the past 30 days, SN5 is ahead by 32.7 percentage points (SN5 +28.1% against SN4 -4.6%). Their daily returns move very closely together (correlation 0.98 across 24 shared trading days). SN4 has been the more volatile of the two, at 134% annualised against SN5's 101%.

Correlation: 0.98
Size ratio: 1 : 6.4
Ahead over 30 days: SN5

OpenKaitoSN5

$2.7200

24h: -0.23%
Market cap: $12.64M
Volume 24h: $14,410
Volatility (ann.): 101%

TargonSN4

$13.6500

24h: +3.71%
Market cap: $80.61M
Volume 24h: $920,760
Volatility (ann.): 134%

SN5 13.6%Share of the two combined market caps86.4% SN4

Performance

SN5SN4

7 days+0.78%-13.99%SN5
30 days+28.15%-4.59%SN5

Correlation

0.98over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN5	SN4
Max drawdown (400d)	-17.8%	-24.4%
Risk-adjusted return (90d)	0.28	0.17

Relative strength over 90 days: SN5 outperformed SN4 by 4.9% — measured on the SN5/SN4 ratio, so it holds regardless of market direction.

OpenKaito →Targon →