POL (ex-MATIC) (POL) is 24.9× the size of Space and Time (SXT) by market capitalisation. Over the past 1 year, POL is ahead by 39.9 percentage points (SXT -80.7% against POL -40.8%). Their daily returns move loosely together (correlation 0.46 across 399 shared trading days). SXT has been the more volatile of the two, at 96% annualised against POL's 74%.
SXTPOL
0.46over 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 | SXT | POL |
|---|---|---|
| Max drawdown (400d) | -91.2% | -72.6% |
| Risk-adjusted return (90d) | 0.21 | 0.34 |
| Best 30 days (past year) | +34.1% | +57.7% |
| Worst 30 days (past year) | -45.5% | -46.8% |
Relative strength over 90 days: POL outperformed SXT by 10.1% — measured on the SXT/POL ratio, so it holds regardless of market direction.