KAITO (KAITO) is 2.3× the size of SQD (SQD) by market capitalisation. Their daily returns move closely together (correlation 0.64 across 53 shared trading days). SQD has been the more volatile of the two, at 132% annualised against KAITO's 104%.
SQDKAITO
0.64over 53 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 | SQD | KAITO |
|---|---|---|
| Max drawdown (400d) | -56.0% | -83.8% |
| Risk-adjusted return (90d) | -0.40 | -0.76 |
| Best 30 days (past year) | — | +133.5% |
| Worst 30 days (past year) | — | -75.3% |
Relative strength over 90 days: KAITO outperformed SQD by 21.7% — measured on the SQD/KAITO ratio, so it holds regardless of market direction.