Gods Unchained (GODS) is 482.2× the size of PanoVerse (PANO) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 83 shared trading days). PANO has been the more volatile of the two, at 182% annualised against GODS's 98%.
PANOGODS
0.54over 83 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 | PANO | GODS |
|---|---|---|
| Max drawdown (400d) | -92.8% | -83.1% |
| Risk-adjusted return (90d) | -0.51 | -0.17 |
| Best 30 days (past year) | — | +25.9% |
| Worst 30 days (past year) | — | -40.3% |
Relative strength over 90 days: GODS outperformed PANO by 62.1% — measured on the PANO/GODS ratio, so it holds regardless of market direction.