Stellar (XLM) is 910.6× the size of Spiko Digital Assets Cash & Carry Fund (SPKCC) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.26 across 31 shared trading days). XLM has been the more volatile of the two, at 78% annualised against SPKCC's 1%.
$1.0290
SPKCCXLM
-0.26over 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 | SPKCC | XLM |
|---|---|---|
| Max drawdown (400d) | -0.2% | -64.9% |
| Risk-adjusted return (90d) | 0.24 | -0.02 |
| Best 30 days (past year) | — | +63.3% |
| Worst 30 days (past year) | — | -39.7% |
Relative strength over 90 days: XLM outperformed SPKCC by 22.4% — measured on the SPKCC/XLM ratio, so it holds regardless of market direction.