Immutable (IMX) is 1030.0× the size of ShinAI (SHINJUKU) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 39 shared trading days). SHINJUKU has been the more volatile of the two, at 318% annualised against IMX's 90%.
SHINJUKUIMX
0.07over 39 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 | SHINJUKU | IMX |
|---|---|---|
| Max drawdown (400d) | -49.0% | -87.2% |
| Risk-adjusted return (90d) | -0.09 | 0.13 |
| Best 30 days (past year) | — | +67.7% |
| Worst 30 days (past year) | — | -50.4% |
Relative strength over 90 days: IMX outperformed SHINJUKU by 26.3% — measured on the SHINJUKU/IMX ratio, so it holds regardless of market direction.