Opinion (OPN) is 24.8× the size of PlotX (PLOT) by market capitalisation. Their daily returns move barely together (correlation 0.11 across 31 shared trading days). OPN has been the more volatile of the two, at 169% annualised against PLOT's 45%.
PLOTOPN
0.11over 31 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 | PLOT | OPN |
|---|---|---|
| Max drawdown (400d) | -14.5% | -88.8% |
| Risk-adjusted return (90d) | -0.16 | -0.23 |
Relative strength over 90 days: PLOT outperformed OPN by 28.0% — measured on the PLOT/OPN ratio, so it holds regardless of market direction.