Atletico Madrid Fan Token (ATM) is 954.8× the size of PRIMAL (PRIMAL) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 184 shared trading days). PRIMAL has been the more volatile of the two, at 188% annualised against ATM's 98%.
$0.786000
PRIMALATM
-0.02over 184 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 | PRIMAL | ATM |
|---|---|---|
| Max drawdown (400d) | -87.6% | -70.3% |
| Risk-adjusted return (90d) | -0.49 | -0.72 |
| Best 30 days (past year) | — | +202.1% |
| Worst 30 days (past year) | — | -50.8% |
Relative strength over 90 days: ATM outperformed PRIMAL by 84.9% — measured on the PRIMAL/ATM ratio, so it holds regardless of market direction.