Tiger Alpha vs affine

affine (SN120) is 3.4× the size of Tiger Alpha (SN107) by market capitalisation. Over the past 30 days, SN107 is ahead by 12.8 percentage points (SN107 -6.9% against SN120 -19.7%). Their daily returns move closely together (correlation 0.65 across 26 shared trading days). SN107 has been the more volatile of the two, at 142% annualised against SN120's 118%.

Correlation: 0.65
Size ratio: 1 : 3.4
Ahead over 30 days: SN107

Tiger AlphaSN107

$6.2900

24h: +5.24%
Market cap: $13.12M
Volume 24h: $368,197
Volatility (ann.): 142%

affineSN120

$10.0400

24h: +6.08%
Market cap: $44.66M
Volume 24h: $723,204
Volatility (ann.): 118%

SN107 22.7%Share of the two combined market caps77.3% SN120

Performance

SN107SN120

7 days-0.68%-13.26%SN107
30 days-6.92%-19.70%SN107

Correlation

0.65over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6590d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN107	SN120
Max drawdown (400d)	-24.2%	-37.7%
Risk-adjusted return (90d)	-0.05	-0.16

Relative strength over 90 days: SN120 outperformed SN107 by 22.0% — measured on the SN107/SN120 ratio, so it holds regardless of market direction.

Tiger Alpha →affine →