Galatasaray Fan Token (GAL) is 193.0× the size of Spain National Football Team (SNFT) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.38 across 31 shared trading days). SNFT has been the more volatile of the two, at 194% annualised against GAL's 18%.
$0.001685
SNFTGAL
-0.38over 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 | SNFT | GAL |
|---|---|---|
| Max drawdown (400d) | -98.1% | -14.7% |
| Risk-adjusted return (90d) | -0.14 | -0.82 |
Relative strength over 90 days: SNFT outperformed GAL by 16.2% — measured on the SNFT/GAL ratio, so it holds regardless of market direction.