Protean vs The Innovation Game

The Innovation Game (TIG) is 741.5× the size of Protean (PRTN) by market capitalisation. Over the past 30 days, PRTN is ahead by 105.4 percentage points (PRTN +83.6% against TIG -21.8%). Their daily returns move barely together (correlation 0.12 across 30 shared trading days). PRTN has been the more volatile of the two, at 415% annualised against TIG's 152%.

Correlation: 0.12
Size ratio: 1 : 741.5
Ahead over 30 days: PRTN

ProteanPRTN

$2.742e-7

24h: —
Market cap: $27,424
Volume 24h: —
Volatility (ann.): 415%

The Innovation GameTIG

$0.536007

24h: -7.16%
Market cap: $20.33M
Volume 24h: $393,354
Volatility (ann.): 152%

PRTN 0.1%Share of the two combined market caps99.9% TIG

Performance

PRTNTIG

7 days+80.33%+3.23%PRTN
30 days+83.61%-21.77%PRTN

Correlation

0.12over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1290d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	PRTN	TIG
Max drawdown (400d)	-23.9%	-46.1%
Risk-adjusted return (90d)	0.19	-0.22

Relative strength over 90 days: PRTN outperformed TIG by 125.8% — measured on the PRTN/TIG ratio, so it holds regardless of market direction.

Protean →The Innovation Game →