OriginTrail (TRAC) is 18.8× the size of Silencio (SLC) by market capitalisation. Their daily returns move barely together (correlation 0.16 across 42 shared trading days). SLC has been the more volatile of the two, at 256% annualised against TRAC's 104%.
SLCTRAC
0.16over 42 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 | SLC | TRAC |
|---|---|---|
| Max drawdown (400d) | -33.0% | -22.2% |
| Risk-adjusted return (90d) | 2.49 | 0.29 |
Relative strength over 90 days: SLC outperformed TRAC by 197.9% — measured on the SLC/TRAC ratio, so it holds regardless of market direction.