RedStone (RED) is 1.3× the size of WINkLink (WIN) by market capitalisation. Over the past 1 year, WIN is ahead by 146.0 percentage points (WIN +94.4% against RED -51.5%). Their daily returns move barely together (correlation 0.28 across 399 shared trading days). RED has been the more volatile of the two, at 115% annualised against WIN's 88%.
WINRED
0.28over 399 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 | WIN | RED |
|---|---|---|
| Max drawdown (400d) | -68.0% | -83.4% |
| Risk-adjusted return (90d) | 2.11 | 0.68 |
| Best 30 days (past year) | +60.1% | +69.2% |
| Worst 30 days (past year) | -38.2% | -41.3% |
Relative strength over 90 days: WIN outperformed RED by 43.0% — measured on the WIN/RED ratio, so it holds regardless of market direction.