Concordium (CCD) is 2799.2× the size of Whale Intel (WINT) by market capitalisation. Their daily returns move loosely together (correlation 0.48 across 30 shared trading days). WINT has been the more volatile of the two, at 130% annualised against CCD's 92%.
WINTCCD
0.48over 30 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 | WINT | CCD |
|---|---|---|
| Max drawdown (400d) | -91.3% | -41.3% |
| Risk-adjusted return (90d) | -0.56 | -0.33 |
Relative strength over 90 days: CCD outperformed WINT by 22.5% — measured on the WINT/CCD ratio, so it holds regardless of market direction.