Kite (KITE) is 39.5× the size of AITECH Cloud Network (ACN) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 163 shared trading days). KITE has been the more volatile of the two, at 121% annualised against ACN's 56%.
ACNKITE
0.05over 163 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 | ACN | KITE |
|---|---|---|
| Max drawdown (400d) | -73.7% | -69.5% |
| Risk-adjusted return (90d) | -0.74 | 0.19 |
| Best 30 days (past year) | — | +151.2% |
| Worst 30 days (past year) | — | -55.6% |
Relative strength over 90 days: KITE outperformed ACN by 35.5% — measured on the ACN/KITE ratio, so it holds regardless of market direction.