Grass (GRASS) is 589.6× the size of Warden (WARD) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 43 shared trading days). WARD has been the more volatile of the two, at 283% annualised against GRASS's 213%.
WARDGRASS
0.31over 43 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 | WARD | GRASS |
|---|---|---|
| Max drawdown (400d) | -99.3% | -25.3% |
| Risk-adjusted return (90d) | -0.33 | 0.35 |
Relative strength over 90 days: GRASS outperformed WARD by 97.6% — measured on the WARD/GRASS ratio, so it holds regardless of market direction.