POL (ex-MATIC) (POL) is 9.2× the size of Immutable (IMX) by market capitalisation. Over the past 1 year, POL is ahead by 27.8 percentage points (POL -45.1% against IMX -72.9%). Their daily returns move closely together (correlation 0.65 across 399 shared trading days). IMX has been the more volatile of the two, at 90% annualised against POL's 75%.
POLIMX
0.65over 399 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 | POL | IMX |
|---|---|---|
| Max drawdown (400d) | -72.6% | -87.2% |
| Risk-adjusted return (90d) | 0.28 | 0.05 |
| Best 30 days (past year) | +57.7% | +67.7% |
| Worst 30 days (past year) | -46.8% | -50.4% |
Relative strength over 90 days: POL outperformed IMX by 18.8% — measured on the POL/IMX ratio, so it holds regardless of market direction.