Virtuals Protocol (VIRTUAL) is 44.5× the size of Recall (RECALL) by market capitalisation. Over the past 1 year, VIRTUAL is ahead by 30.8 percentage points (RECALL -90.4% against VIRTUAL -59.6%). Their daily returns move barely together (correlation 0.29 across 358 shared trading days). Both have run at a similar volatility, around 127% annualised.
RECALLVIRTUAL
0.29over 358 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 | RECALL | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -94.5% | -71.7% |
| Risk-adjusted return (90d) | -0.09 | 0.04 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed RECALL by 5.5% — measured on the RECALL/VIRTUAL ratio, so it holds regardless of market direction.