Celestia (TIA) is 18.5× the size of SKALE (SKL) by market capitalisation. Over the past 1 year, TIA is ahead by 28.7 percentage points (SKL -75.1% against TIA -46.4%). Their daily returns move loosely together (correlation 0.56 across 399 shared trading days). TIA has been the more volatile of the two, at 112% annualised against SKL's 89%.
SKLTIA
0.56over 399 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 | SKL | TIA |
|---|---|---|
| Max drawdown (400d) | -87.2% | -81.6% |
| Risk-adjusted return (90d) | 0.13 | 0.23 |
| Best 30 days (past year) | +46.6% | +101.4% |
| Worst 30 days (past year) | -47.2% | -47.6% |
Relative strength over 90 days: TIA outperformed SKL by 14.9% — measured on the SKL/TIA ratio, so it holds regardless of market direction.