Tesla Robotaxi (CYBERCAB) and Aero (AERO) compared side by side. Their daily returns move barely in opposite directions (correlation -0.18 across 26 shared trading days). CYBERCAB has been the more volatile of the two, at 1377% annualised against AERO's 100%.
CYBERCABAERO
-0.18over 26 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 | CYBERCAB | AERO |
|---|---|---|
| Max drawdown (400d) | -78.5% | -42.3% |
| Risk-adjusted return (90d) | -0.02 | 0.30 |
Relative strength over 90 days: AERO outperformed CYBERCAB by 11.1% — measured on the CYBERCAB/AERO ratio, so it holds regardless of market direction.