Cronos (CRO) is 84148.1× the size of PLUS (PLUS) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.32 across 33 shared trading days). PLUS has been the more volatile of the two, at 101% annualised against CRO's 86%.
PLUSCRO
-0.32over 33 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 | PLUS | CRO |
|---|---|---|
| Max drawdown (400d) | -89.7% | -28.4% |
| Risk-adjusted return (90d) | -0.85 | 0.11 |
Relative strength over 90 days: CRO outperformed PLUS by 79.3% — measured on the PLUS/CRO ratio, so it holds regardless of market direction.