Venice Token (VVV) is 172.1× the size of Swarms (SWARMS) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 36 shared trading days). Both have run at a similar volatility, around 168% annualised.
SWARMSVVV
0.30over 36 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 | SWARMS | VVV |
|---|---|---|
| Max drawdown (400d) | -82.8% | -29.6% |
| Risk-adjusted return (90d) | -0.07 | 0.54 |
Relative strength over 90 days: VVV outperformed SWARMS by 67.3% — measured on the SWARMS/VVV ratio, so it holds regardless of market direction.