Karma by Virtuals (KARMA) is 9.3× the size of PLUS (PLUS) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.11 across 26 shared trading days). KARMA has been the more volatile of the two, at 354% annualised against PLUS's 101%.
PLUSKARMA
-0.11over 26 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 | KARMA |
|---|---|---|
| Max drawdown (400d) | -89.7% | -88.1% |
| Risk-adjusted return (90d) | -0.85 | -0.23 |
Relative strength over 90 days: PLUS outperformed KARMA by 4.3% — measured on the PLUS/KARMA ratio, so it holds regardless of market direction.