We are All Gonna Make It (WAGMI) and Arclight Finance (ARCLIGHT) compared side by side. Their daily returns move barely in opposite directions (correlation -0.26 across 23 shared trading days). ARCLIGHT has been the more volatile of the two, at 123801% annualised against WAGMI's 21472%.
$8.045e-5
WAGMIARCLIGHT
-0.26over 23 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 | WAGMI | ARCLIGHT |
|---|---|---|
| Max drawdown (400d) | -99.7% | -99.8% |
| Risk-adjusted return (90d) | 0.00 | 0.00 |
Relative strength over 90 days: ARCLIGHT outperformed WAGMI by 98.7% — measured on the WAGMI/ARCLIGHT ratio, so it holds regardless of market direction.