Pieverse (PIEVERSE) is 44.9× the size of QAIT (QAIT) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 44 shared trading days). QAIT has been the more volatile of the two, at 174% annualised against PIEVERSE's 145%.
QAITPIEVERSE
0.23over 44 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 | QAIT | PIEVERSE |
|---|---|---|
| Max drawdown (400d) | -95.7% | -38.7% |
| Risk-adjusted return (90d) | -0.48 | 0.25 |
Relative strength over 90 days: PIEVERSE outperformed QAIT by 61.4% — measured on the QAIT/PIEVERSE ratio, so it holds regardless of market direction.