Virtuals Protocol (VIRTUAL) is 47.9× the size of Theoriq (THQ) by market capitalisation. Over the past 1 year, VIRTUAL is ahead by 30.2 percentage points (THQ -89.8% against VIRTUAL -59.6%). Their daily returns move barely together (correlation 0.15 across 297 shared trading days). Both have run at a similar volatility, around 124% annualised.
THQVIRTUAL
0.15over 297 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 | THQ | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -90.1% | -71.7% |
| Risk-adjusted return (90d) | -0.23 | 0.04 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed THQ by 19.9% — measured on the THQ/VIRTUAL ratio, so it holds regardless of market direction.