Swarm vs Targon

Targon (SN4) is 9.4× the size of Swarm (SN124) by market capitalisation. Over the past 30 days, SN124 is ahead by 8.1 percentage points (SN124 +3.5% against SN4 -4.6%). Their daily returns move very closely together (correlation 0.86 across 24 shared trading days). SN4 has been the more volatile of the two, at 134% annualised against SN124's 111%.

Correlation: 0.86
Size ratio: 1 : 9.4
Ahead over 30 days: SN124

SwarmSN124

$1.9700

24h: -0.17%
Market cap: $8.34M
Volume 24h: $49,132
Volatility (ann.): 111%

TargonSN4

$13.2200

24h: +0.51%
Market cap: $78.15M
Volume 24h: $904,564
Volatility (ann.): 134%

SN124 9.6%Share of the two combined market caps90.4% SN4

Performance

SN124SN4

7 days-4.23%-13.99%SN124
30 days+3.52%-4.59%SN124

Correlation

0.86over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN124	SN4
Max drawdown (400d)	-22.1%	-24.4%
Risk-adjusted return (90d)	0.03	0.17

Relative strength over 90 days: SN4 outperformed SN124 by 15.2% — measured on the SN124/SN4 ratio, so it holds regardless of market direction.

Swarm →Targon →