RALLY (RALLY) and NKN (NKN) compared side by side. Their daily returns move barely in opposite directions (correlation -0.24 across 24 shared trading days). RALLY has been the more volatile of the two, at 20910% annualised against NKN's 181%.
RALLYNKN
-0.24over 24 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 | RALLY | NKN |
|---|---|---|
| Max drawdown (400d) | -98.5% | -81.0% |
| Risk-adjusted return (90d) | 0.00 | -0.28 |
Relative strength over 90 days: NKN outperformed RALLY by 94.3% — measured on the RALLY/NKN ratio, so it holds regardless of market direction.