AVA (Travala) (AVA) is 2.2× the size of Vow (VOW) by market capitalisation. Over the past 1 year, AVA is ahead by 10.2 percentage points (VOW -26.0% against AVA -15.8%). Their daily returns move barely together (correlation 0.13 across 373 shared trading days). AVA has been the more volatile of the two, at 120% annualised against VOW's 97%.
VOWAVA
0.13over 373 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 | VOW | AVA |
|---|---|---|
| Max drawdown (400d) | -67.7% | -72.4% |
| Risk-adjusted return (90d) | 0.33 | 0.23 |
| Best 30 days (past year) | +89.3% | +89.0% |
| Worst 30 days (past year) | -37.7% | -42.0% |
Relative strength over 90 days: AVA outperformed VOW by 20.6% — measured on the VOW/AVA ratio, so it holds regardless of market direction.