OVERTAKE (TAKE) is 275.9× the size of Palio (PAL) by market capitalisation. Over the past 1 year, TAKE is ahead by 16.3 percentage points (PAL -90.7% against TAKE -74.4%). Their daily returns move barely in opposite directions (correlation -0.04 across 373 shared trading days). TAKE has been the more volatile of the two, at 219% annualised against PAL's 142%.
PALTAKE
-0.04over 373 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 | PAL | TAKE |
|---|---|---|
| Max drawdown (400d) | -93.2% | -96.8% |
| Risk-adjusted return (90d) | -0.70 | 0.87 |
| Best 30 days (past year) | +80.8% | +242.3% |
| Worst 30 days (past year) | -53.2% | -91.5% |
Relative strength over 90 days: TAKE outperformed PAL by 80.3% — measured on the PAL/TAKE ratio, so it holds regardless of market direction.