Gods Unchained (GODS) is 541.7× the size of Spellfire (SPELLFIRE) by market capitalisation. Over the past 1 year, SPELLFIRE is ahead by 0.5 percentage points (SPELLFIRE -80.6% against GODS -81.1%). Their daily returns move barely together (correlation 0.10 across 368 shared trading days). SPELLFIRE has been the more volatile of the two, at 121% annualised against GODS's 98%.
SPELLFIREGODS
0.10over 368 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 | SPELLFIRE | GODS |
|---|---|---|
| Max drawdown (400d) | -80.9% | -83.1% |
| Risk-adjusted return (90d) | -0.38 | -0.14 |
| Best 30 days (past year) | +61.6% | +25.9% |
| Worst 30 days (past year) | -54.3% | -40.3% |
Relative strength over 90 days: GODS outperformed SPELLFIRE by 35.8% — measured on the SPELLFIRE/GODS ratio, so it holds regardless of market direction.