Virtuals Protocol (VIRTUAL) is 3.1× the size of AWE Network (AWE) by market capitalisation. Over the past 1 year, AWE is ahead by 60.7 percentage points (AWE +4.6% against VIRTUAL -56.1%). Their daily returns move barely together (correlation 0.27 across 399 shared trading days). VIRTUAL has been the more volatile of the two, at 119% annualised against AWE's 83%.
AWEVIRTUAL
0.27over 399 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 | AWE | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -57.5% | -71.7% |
| Risk-adjusted return (90d) | 0.27 | 0.06 |
| Best 30 days (past year) | +87.1% | +47.4% |
| Worst 30 days (past year) | -46.6% | -54.7% |
Relative strength over 90 days: AWE outperformed VIRTUAL by 12.3% — measured on the AWE/VIRTUAL ratio, so it holds regardless of market direction.