Render (RENDER) is 13107.4× the size of OVO (OVO) by market capitalisation. Over the past 1 year, RENDER is ahead by 51.4 percentage points (OVO -65.3% against RENDER -13.9%). Their daily returns move barely together (correlation 0.08 across 363 shared trading days). OVO has been the more volatile of the two, at 155% annualised against RENDER's 95%.
OVORENDER
0.08over 363 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 | OVO | RENDER |
|---|---|---|
| Max drawdown (400d) | -86.7% | -66.8% |
| Risk-adjusted return (90d) | -0.30 | 0.26 |
| Best 30 days (past year) | — | +82.4% |
| Worst 30 days (past year) | — | -49.7% |
Relative strength over 90 days: RENDER outperformed OVO by 7.8% — measured on the OVO/RENDER ratio, so it holds regardless of market direction.