Filecoin (FIL) is 5.5× the size of Yellow (YELLOW) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.33 across 41 shared trading days). YELLOW has been the more volatile of the two, at 1082% annualised against FIL's 125%.
YELLOWFIL
-0.33over 41 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 | YELLOW | FIL |
|---|---|---|
| Max drawdown (400d) | -34.1% | -81.4% |
| Risk-adjusted return (90d) | 0.35 | 0.19 |
| Best 30 days (past year) | — | +66.2% |
| Worst 30 days (past year) | — | -57.1% |
Relative strength over 90 days: YELLOW outperformed FIL by 284.1% — measured on the YELLOW/FIL ratio, so it holds regardless of market direction.