Solana (SOL) is 3697.7× the size of Songbird (SGB) by market capitalisation. Over the past 1 year, SOL is ahead by 32.9 percentage points (SGB -77.0% against SOL -44.1%). Their daily returns move barely together (correlation 0.30 across 363 shared trading days). SGB has been the more volatile of the two, at 113% annualised against SOL's 66%.
SGBSOL
0.30over 363 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 | SGB | SOL |
|---|---|---|
| Max drawdown (400d) | -87.3% | -73.5% |
| Risk-adjusted return (90d) | -0.03 | 0.44 |
| Best 30 days (past year) | — | +47.8% |
| Worst 30 days (past year) | — | -46.1% |
Relative strength over 90 days: SOL outperformed SGB by 40.1% — measured on the SGB/SOL ratio, so it holds regardless of market direction.