Quant (QNT) is 33.7× the size of RedStone (RED) by market capitalisation. Over the past 1 year, QNT is ahead by 178.1 percentage points (QNT +123.5% against RED -54.6%). Their daily returns move barely together (correlation 0.21 across 399 shared trading days). Both have run at a similar volatility, around 121% annualised.
QNTRED
0.21over 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 | QNT | RED |
|---|---|---|
| Max drawdown (400d) | -46.9% | -82.6% |
| Risk-adjusted return (90d) | 1.01 | 0.76 |
| Best 30 days (past year) | +369.8% | +69.2% |
| Worst 30 days (past year) | -33.0% | -41.3% |
Relative strength over 90 days: QNT outperformed RED by 96.9% — measured on the QNT/RED ratio, so it holds regardless of market direction.