Shuffle (SHFL) is 8.7× the size of Playnance (GCOIN) by market capitalisation. Over the past 30 days, SHFL is ahead by 66.5 percentage points (GCOIN -41.9% against SHFL +24.6%). Their daily returns move barely together (correlation 0.18 across 36 shared trading days). Both have run at a similar volatility, around 175% annualised.
GCOINSHFL
0.18over 36 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 | GCOIN | SHFL |
|---|---|---|
| Max drawdown (400d) | -57.6% | -41.4% |
| Risk-adjusted return (90d) | -0.31 | 0.19 |
Relative strength over 90 days: SHFL outperformed GCOIN by 73.1% — measured on the GCOIN/SHFL ratio, so it holds regardless of market direction.