Rain (RAIN) is 1.1× the size of Canton (CC) by market capitalisation. Over the past 30 days, CC is ahead by 57.7 percentage points (RAIN -58.2% against CC -0.5%). Their daily returns move barely in opposite directions (correlation -0.04 across 58 shared trading days). Both have run at a similar volatility, around 130% annualised.
RAINCC
-0.04over 58 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 | RAIN | CC |
|---|---|---|
| Max drawdown (400d) | -68.5% | -30.6% |
| Risk-adjusted return (90d) | -0.37 | 0.01 |
Relative strength over 90 days: CC outperformed RAIN by 50.3% — measured on the RAIN/CC ratio, so it holds regardless of market direction.