TEMU (TE) and Dispatch (DSP) compared side by side. Their daily returns move barely in opposite directions (correlation -0.13 across 20 shared trading days). DSP has been the more volatile of the two, at 451% annualised against TE's 339%.
TEDSP
-0.13over 20 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 | TE | DSP |
|---|---|---|
| Max drawdown (400d) | -82.5% | -84.1% |
| Risk-adjusted return (90d) | -0.20 | — |
Relative strength over 90 days: TE outperformed DSP by 60.6% — measured on the TE/DSP ratio, so it holds regardless of market direction.