Akedo (AKE) is 6567.6× the size of Reflect (RFL) by market capitalisation. Over the past 30 days, RFL is ahead by 18.3 percentage points (RFL -64.9% against AKE -83.2%). Their daily returns move barely together (correlation 0.12 across 24 shared trading days). Both have run at a similar volatility, around 430% annualised.
RFLAKE
0.12over 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 | RFL | AKE |
|---|---|---|
| Max drawdown (400d) | -69.6% | -93.5% |
| Risk-adjusted return (90d) | -0.17 | -0.16 |
Relative strength over 90 days: RFL outperformed AKE by 233.1% — measured on the RFL/AKE ratio, so it holds regardless of market direction.