$SOLD (SOLD) and Arc-man (ARCMAN) compared side by side. Over the past 30 days, ARCMAN is ahead by 12.6 percentage points (SOLD -19.5% against ARCMAN -6.9%). Their daily returns move barely in opposite directions (correlation -0.29 across 31 shared trading days). ARCMAN has been the more volatile of the two, at 183% annualised against SOLD's 95%.
SOLDARCMAN
-0.29over 31 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 | SOLD | ARCMAN |
|---|---|---|
| Max drawdown (400d) | -30.8% | -44.3% |
| Risk-adjusted return (90d) | -0.20 | -0.03 |
Relative strength over 90 days: ARCMAN outperformed SOLD by 15.8% — measured on the SOLD/ARCMAN ratio, so it holds regardless of market direction.