Render (RENDER) is 1677.5× the size of Vulcan Forged (PYR) by market capitalisation. Over the past 1 year, RENDER is ahead by 70.6 percentage points (PYR -96.1% against RENDER -25.5%). Their daily returns move barely together (correlation 0.23 across 354 shared trading days). PYR has been the more volatile of the two, at 397% annualised against RENDER's 95%.
PYRRENDER
0.23over 354 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 | PYR | RENDER |
|---|---|---|
| Max drawdown (400d) | -98.2% | -66.8% |
| Risk-adjusted return (90d) | -0.10 | 0.17 |
| Best 30 days (past year) | — | +82.4% |
| Worst 30 days (past year) | — | -49.7% |
Relative strength over 90 days: RENDER outperformed PYR by 74.7% — measured on the PYR/RENDER ratio, so it holds regardless of market direction.