Dispatch (DSP) is 15.3× the size of Super Iguana (SI) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 20 shared trading days). SI has been the more volatile of the two, at 446188% annualised against DSP's 464%.
SIDSP
0.24over 20 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 | SI | DSP |
|---|---|---|
| Max drawdown (400d) | -100.0% | -84.1% |
| Risk-adjusted return (90d) | 0.00 | -0.13 |
Relative strength over 90 days: SI outperformed DSP by 189.1% — measured on the SI/DSP ratio, so it holds regardless of market direction.