Ethereum (ETH) is 662969.1× the size of 21Million (21M) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 35 shared trading days). ETH has been the more volatile of the two, at 62% annualised against 21M's 39%.
21METH
0.61over 35 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 | 21M | ETH |
|---|---|---|
| Max drawdown (400d) | -11.9% | -66.5% |
| Risk-adjusted return (90d) | -0.22 | 0.50 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: 21M outperformed ETH by 2.2% — measured on the 21M/ETH ratio, so it holds regardless of market direction.