Synth vs EfficientFrontier

EfficientFrontier (SN53) is 7.5× the size of Synth (SN50) by market capitalisation. Over the past 30 days, SN53 is ahead by 5.5 percentage points (SN50 -16.9% against SN53 -11.4%). Their daily returns move barely together (correlation 0.26 across 28 shared trading days). SN53 has been the more volatile of the two, at 200% annualised against SN50's 99%.

Correlation: 0.26
Size ratio: 1 : 7.5
Ahead over 30 days: SN53

SynthSN50

$0.838904

24h: +5.24%
Market cap: $4.70M
Volume 24h: $84,503
Volatility (ann.): 99%

EfficientFrontierSN53

$6.0000

24h: -12.87%
Market cap: $35.09M
Volume 24h: $1.85M
Volatility (ann.): 200%

SN50 11.8%Share of the two combined market caps88.2% SN53

Performance

SN50SN53

7 days-3.28%-25.76%SN50
30 days-16.90%-11.36%SN53

Correlation

0.26over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	SN50	SN53
Max drawdown (400d)	-32.0%	-50.3%
Risk-adjusted return (90d)	-0.17	-0.02

Relative strength over 90 days: SN53 outperformed SN50 by 35.2% — measured on the SN50/SN53 ratio, so it holds regardless of market direction.

Synth →EfficientFrontier →