Smooth Love Potion (SLP) is 670.4× the size of Super Useless Token (SUT) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.35 across 22 shared trading days). SUT has been the more volatile of the two, at 198% annualised against SLP's 85%.
SUTSLP
-0.35over 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 | SUT | SLP |
|---|---|---|
| Max drawdown (400d) | -58.6% | -72.7% |
| Risk-adjusted return (90d) | -0.30 | -0.19 |
| Best 30 days (past year) | — | +42.9% |
| Worst 30 days (past year) | — | -42.9% |
Relative strength over 90 days: SLP outperformed SUT by 45.2% — measured on the SUT/SLP ratio, so it holds regardless of market direction.