USD.AI (CHIP) is 38.9× the size of Resupply (RSUP) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.17 across 40 shared trading days). CHIP has been the more volatile of the two, at 180% annualised against RSUP's 112%.
RSUPCHIP
-0.17over 40 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 | RSUP | CHIP |
|---|---|---|
| Max drawdown (400d) | -46.5% | -80.8% |
| Risk-adjusted return (90d) | -0.31 | 0.40 |
Relative strength over 90 days: CHIP outperformed RSUP by 38.1% — measured on the RSUP/CHIP ratio, so it holds regardless of market direction.