Stable (STABLE) is 567.1× the size of XL1 (XL1) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 44 shared trading days). Both have run at a similar volatility, around 77% annualised.
XL1STABLE
0.24over 44 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 | XL1 | STABLE |
|---|---|---|
| Max drawdown (400d) | -87.3% | -25.6% |
| Risk-adjusted return (90d) | -0.35 | -0.10 |
| Best 30 days (past year) | +64.9% | — |
| Worst 30 days (past year) | -57.6% | — |
Relative strength over 90 days: STABLE outperformed XL1 by 19.7% — measured on the XL1/STABLE ratio, so it holds regardless of market direction.