EigenCloud (prev. EigenLayer) (EIGEN) is 626.1× the size of 0xGasless (0XGAS) by market capitalisation. Their daily returns move barely together (correlation 0.10 across 30 shared trading days). EIGEN has been the more volatile of the two, at 107% annualised against 0XGAS's 79%.
$0.169600
0XGASEIGEN
0.10over 30 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 | 0XGAS | EIGEN |
|---|---|---|
| Max drawdown (400d) | -17.8% | -92.3% |
| Risk-adjusted return (90d) | -0.13 | 0.02 |
| Best 30 days (past year) | — | +46.0% |
| Worst 30 days (past year) | — | -55.2% |
Relative strength over 90 days: 0XGAS outperformed EIGEN by 20.2% — measured on the 0XGAS/EIGEN ratio, so it holds regardless of market direction.