Araracoin (ARARA) is 153.5× the size of XELS (XELS) by market capitalisation. Their daily returns move loosely together (correlation 0.56 across 31 shared trading days). ARARA has been the more volatile of the two, at 809% annualised against XELS's 50%.
XELSARARA
0.56over 31 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 | XELS | ARARA |
|---|---|---|
| Max drawdown (400d) | -78.2% | -83.4% |
| Risk-adjusted return (90d) | -0.80 | -0.06 |
Relative strength over 90 days: ARARA outperformed XELS by 4.8% — measured on the XELS/ARARA ratio, so it holds regardless of market direction.