Phenom (PHNM) and Rollbit Coin (RLB) compared side by side. Over the past 30 days, PHNM is ahead by 8.0 percentage points (PHNM -1.1% against RLB -9.1%). Their daily returns move barely in opposite directions (correlation -0.31 across 22 shared trading days). PHNM has been the more volatile of the two, at 113% annualised against RLB's 54%.
PHNMRLB
-0.31over 22 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 | PHNM | RLB |
|---|---|---|
| Max drawdown (400d) | -22.0% | -17.6% |
| Risk-adjusted return (90d) | -0.02 | -0.05 |
Relative strength over 90 days: RLB outperformed PHNM by 13.0% — measured on the PHNM/RLB ratio, so it holds regardless of market direction.