Shuffle (SHFL) is 3291.2× the size of Polyfactual (POLYFACTS) by market capitalisation. Their daily returns move loosely together (correlation 0.35 across 40 shared trading days). POLYFACTS has been the more volatile of the two, at 226% annualised against SHFL's 171%.
POLYFACTSSHFL
0.35over 40 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 | POLYFACTS | SHFL |
|---|---|---|
| Max drawdown (400d) | -90.9% | -41.4% |
| Risk-adjusted return (90d) | -0.28 | 0.18 |
Relative strength over 90 days: SHFL outperformed POLYFACTS by 63.1% — measured on the POLYFACTS/SHFL ratio, so it holds regardless of market direction.