MEET48 (IDOL) is 296.3× the size of ritestream (RITE) by market capitalisation. Over the past 1 year, IDOL is ahead by 45.2 percentage points (RITE -87.2% against IDOL -42.0%). Their daily returns move barely in opposite directions (correlation -0.05 across 369 shared trading days). RITE has been the more volatile of the two, at 245% annualised against IDOL's 184%.
RITEIDOL
-0.05over 369 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 | RITE | IDOL |
|---|---|---|
| Max drawdown (400d) | -96.3% | -80.3% |
| Risk-adjusted return (90d) | -0.29 | 0.12 |
| Best 30 days (past year) | +219.5% | +129.2% |
| Worst 30 days (past year) | -74.6% | -55.6% |
Relative strength over 90 days: IDOL outperformed RITE by 66.2% — measured on the RITE/IDOL ratio, so it holds regardless of market direction.