Vultisig (VULT) is 1.5× the size of THAT (THAT) by market capitalisation. Over the past 30 days, VULT is ahead by 27.3 percentage points (VULT +25.6% against THAT -1.7%). Their daily returns move barely together (correlation 0.18 across 39 shared trading days). VULT has been the more volatile of the two, at 126% annualised against THAT's 56%.
VULTTHAT
0.18over 39 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 | VULT | THAT |
|---|---|---|
| Max drawdown (400d) | -35.2% | -10.8% |
| Risk-adjusted return (90d) | -0.10 | 0.12 |
Relative strength over 90 days: THAT outperformed VULT by 20.0% — measured on the VULT/THAT ratio, so it holds regardless of market direction.