OriginTrail (TRAC) is 2608.2× the size of SPIRA (SPIRA) by market capitalisation. Their daily returns move closely together (correlation 0.77 across 22 shared trading days). Both have run at a similar volatility, around 108% annualised.
SPIRATRAC
0.77over 22 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 | SPIRA | TRAC |
|---|---|---|
| Max drawdown (400d) | -57.6% | -22.2% |
| Risk-adjusted return (90d) | 0.07 | 0.33 |
Relative strength over 90 days: TRAC outperformed SPIRA by 1.8% — measured on the SPIRA/TRAC ratio, so it holds regardless of market direction.