Virtuals Protocol (VIRTUAL) is 67259.0× the size of REAL ESMATE by Virtuals (EMATE) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 184 shared trading days). EMATE has been the more volatile of the two, at 452% annualised against VIRTUAL's 119%.
EMATEVIRTUAL
0.30over 184 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 | EMATE | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -87.1% | -71.7% |
| Risk-adjusted return (90d) | -0.24 | 0.06 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed EMATE by 19.0% — measured on the EMATE/VIRTUAL ratio, so it holds regardless of market direction.