WINkLink BSC (WIN) and RedStone (RED) compared side by side. Their daily returns move barely in opposite directions (correlation -0.15 across 39 shared trading days). Both have run at a similar volatility, around 117% annualised.
WINRED
-0.15over 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 | WIN | RED |
|---|---|---|
| Max drawdown (400d) | -5.8% | -83.4% |
| Risk-adjusted return (90d) | 0.97 | 0.74 |
| Best 30 days (past year) | — | +69.2% |
| Worst 30 days (past year) | — | -41.3% |
Relative strength over 90 days: WIN outperformed RED by 66.2% — measured on the WIN/RED ratio, so it holds regardless of market direction.