牛来 (Niu Lai) (牛来) is 7949.5× the size of 堂哥 (Paternal Older Cousin) (堂哥) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 23 shared trading days). 牛来 has been the more volatile of the two, at 194% annualised against 堂哥's 47%.
堂哥牛来
-0.05over 23 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 | 堂哥 | 牛来 |
|---|---|---|
| Max drawdown (400d) | -19.3% | -60.2% |
| Risk-adjusted return (90d) | -0.41 | -0.09 |
Relative strength over 90 days: 堂哥 outperformed 牛来 by 25.3% — measured on the 堂哥/牛来 ratio, so it holds regardless of market direction.