The Graph (GRT) is 3.6× the size of Theta Fuel (TFUEL) by market capitalisation. Over the past 1 year, TFUEL is ahead by 2.4 percentage points (TFUEL -63.0% against GRT -65.4%). Their daily returns move closely together (correlation 0.68 across 399 shared trading days). GRT has been the more volatile of the two, at 85% annualised against TFUEL's 64%.
TFUELGRT
0.68over 399 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 | TFUEL | GRT |
|---|---|---|
| Max drawdown (400d) | -78.0% | -85.1% |
| Risk-adjusted return (90d) | 0.13 | 0.30 |
| Best 30 days (past year) | +50.7% | +115.0% |
| Worst 30 days (past year) | -34.7% | -41.8% |
Relative strength over 90 days: GRT outperformed TFUEL by 17.6% — measured on the TFUEL/GRT ratio, so it holds regardless of market direction.