Stellar (XLM) is 184.5× the size of Spiko Digital Assets Cash & Carry Fund - Euro Share Class (EURSPKCC) by market capitalisation. Their daily returns move loosely together (correlation 0.35 across 51 shared trading days). XLM has been the more volatile of the two, at 78% annualised against EURSPKCC's 7%.
$1.1300
EURSPKCCXLM
0.35over 51 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 | EURSPKCC | XLM |
|---|---|---|
| Max drawdown (400d) | -4.3% | -64.9% |
| Risk-adjusted return (90d) | -0.46 | -0.02 |
| Best 30 days (past year) | — | +63.3% |
| Worst 30 days (past year) | — | -39.7% |
Relative strength over 90 days: EURSPKCC outperformed XLM by 18.8% — measured on the EURSPKCC/XLM ratio, so it holds regardless of market direction.