IOTA (IOTA) is 13.6× the size of Radworks (RAD) by market capitalisation. Over the past 1 year, RAD is ahead by 24.9 percentage points (RAD -43.4% against IOTA -68.3%). Their daily returns move barely together (correlation 0.31 across 399 shared trading days). RAD has been the more volatile of the two, at 89% annualised against IOTA's 76%.
RADIOTA
0.31over 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 | RAD | IOTA |
|---|---|---|
| Max drawdown (400d) | -68.9% | -83.5% |
| Risk-adjusted return (90d) | 0.13 | 0.23 |
| Best 30 days (past year) | +51.6% | +51.5% |
| Worst 30 days (past year) | -32.5% | -45.9% |
Relative strength over 90 days: IOTA outperformed RAD by 3.7% — measured on the RAD/IOTA ratio, so it holds regardless of market direction.