Pearl (PEARL) is 477.9× the size of TriasLab (TRIAS) by market capitalisation. Over the past 30 days, PEARL is ahead by 282.0 percentage points (TRIAS -19.0% against PEARL +263.0%). Their daily returns move barely together (correlation 0.21 across 21 shared trading days). Both have run at a similar volatility, around 370% annualised.
TRIASPEARL
0.21over 21 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 | TRIAS | PEARL |
|---|---|---|
| Max drawdown (400d) | -65.8% | -40.3% |
| Risk-adjusted return (90d) | -0.07 | 1.12 |
Relative strength over 90 days: PEARL outperformed TRIAS by 84.3% — measured on the TRIAS/PEARL ratio, so it holds regardless of market direction.