The Sandbox (SAND) is 3751.4× the size of Super Useless Token (SUT) by market capitalisation. Their daily returns move closely in opposite directions (correlation -0.79 across 22 shared trading days). SUT has been the more volatile of the two, at 198% annualised against SAND's 103%.
SUTSAND
-0.79over 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 | SAND |
|---|---|---|
| Max drawdown (400d) | -58.6% | -88.4% |
| Risk-adjusted return (90d) | -0.30 | 0.02 |
| Best 30 days (past year) | — | +94.1% |
| Worst 30 days (past year) | — | -48.8% |
Relative strength over 90 days: SAND outperformed SUT by 58.9% — measured on the SUT/SAND ratio, so it holds regardless of market direction.