Optimism (OP) is 14.9× the size of Taiko (TAIKO) by market capitalisation. Over the past 1 year, OP is ahead by 11.9 percentage points (TAIKO -81.0% against OP -69.0%). Their daily returns move barely together (correlation 0.04 across 371 shared trading days). TAIKO has been the more volatile of the two, at 630% annualised against OP's 100%.
TAIKOOP
0.04over 371 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 | TAIKO | OP |
|---|---|---|
| Max drawdown (400d) | -88.6% | -89.2% |
| Risk-adjusted return (90d) | -0.18 | 0.21 |
| Best 30 days (past year) | +445.1% | +67.2% |
| Worst 30 days (past year) | -87.5% | -60.5% |
Relative strength over 90 days: OP outperformed TAIKO by 21.3% — measured on the TAIKO/OP ratio, so it holds regardless of market direction.