The Sandbox (SAND) is 435.5× the size of PLAYA3ULL GAMES (3ULL) by market capitalisation. Over the past 1 year, SAND is ahead by 16.8 percentage points (3ULL -91.6% against SAND -74.8%). Their daily returns move barely together (correlation 0.35 across 364 shared trading days). 3ULL has been the more volatile of the two, at 178% annualised against SAND's 103%.
3ULLSAND
0.35over 364 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 | 3ULL | SAND |
|---|---|---|
| Max drawdown (400d) | -95.1% | -88.4% |
| Risk-adjusted return (90d) | -0.09 | 0.07 |
| Best 30 days (past year) | — | +94.1% |
| Worst 30 days (past year) | — | -48.8% |
Relative strength over 90 days: SAND outperformed 3ULL by 17.5% — measured on the 3ULL/SAND ratio, so it holds regardless of market direction.