Arkham (ARKM) is 1560.0× the size of XALPHA.AI (XALPHA) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 104 shared trading days). XALPHA has been the more volatile of the two, at 131% annualised against ARKM's 97%.
XALPHAARKM
0.54over 104 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 | XALPHA | ARKM |
|---|---|---|
| Max drawdown (400d) | -86.3% | -84.7% |
| Risk-adjusted return (90d) | -0.52 | 0.21 |
| Best 30 days (past year) | — | +48.6% |
| Worst 30 days (past year) | — | -49.1% |
Relative strength over 90 days: XALPHA outperformed ARKM by 15.0% — measured on the XALPHA/ARKM ratio, so it holds regardless of market direction.