Tiger Alpha vs EfficientFrontier

EfficientFrontier (SN53) is 3.2× the size of Tiger Alpha (SN107) by market capitalisation. Over the past 30 days, SN53 is ahead by 29.6 percentage points (SN107 -6.9% against SN53 +22.7%). Their daily returns move barely together (correlation 0.19 across 28 shared trading days). SN53 has been the more volatile of the two, at 200% annualised against SN107's 142%.

Correlation: 0.19
Size ratio: 1 : 3.2
Ahead over 30 days: SN53

Tiger AlphaSN107

$6.2900

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

EfficientFrontierSN53

$7.1100

24h: +0.62%
Market cap: $41.55M
Volume 24h: $2.60M
Volatility (ann.): 200%

SN107 24.0%Share of the two combined market caps76.0% SN53

Performance

SN107SN53

7 days-0.68%-14.51%SN107
30 days-6.92%+22.72%SN53

Correlation

0.19over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1990d: 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	SN53
Max drawdown (400d)	-24.2%	-40.6%
Risk-adjusted return (90d)	-0.05	0.09

Relative strength over 90 days: SN53 outperformed SN107 by 27.4% — measured on the SN107/SN53 ratio, so it holds regardless of market direction.

Tiger Alpha →EfficientFrontier →