Genius (GENIUS) is 16132.4× the size of Sounder Liquidity (SOUNDER) by market capitalisation. Their daily returns move barely together (correlation 0.17 across 35 shared trading days). SOUNDER has been the more volatile of the two, at 368% annualised against GENIUS's 95%.
SOUNDERGENIUS
0.17over 35 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 | SOUNDER | GENIUS |
|---|---|---|
| Max drawdown (400d) | -89.6% | -61.7% |
| Risk-adjusted return (90d) | -0.24 | -0.15 |
Relative strength over 90 days: GENIUS outperformed SOUNDER by 88.7% — measured on the SOUNDER/GENIUS ratio, so it holds regardless of market direction.