Opinion (OPN) is 5.2× the size of PRDCTR (PRD) by market capitalisation. Their daily returns move barely together (correlation 0.12 across 41 shared trading days). PRD has been the more volatile of the two, at 258% annualised against OPN's 170%.
PRDOPN
0.12over 41 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 | PRD | OPN |
|---|---|---|
| Max drawdown (400d) | -85.9% | -88.8% |
| Risk-adjusted return (90d) | -0.32 | -0.20 |
Relative strength over 90 days: OPN outperformed PRD by 76.9% — measured on the PRD/OPN ratio, so it holds regardless of market direction.