Filecoin (FIL) is 13.8× the size of aelf (ELF) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 40 shared trading days). FIL has been the more volatile of the two, at 125% annualised against ELF's 99%.
ELFFIL
0.36over 40 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 | ELF | FIL |
|---|---|---|
| Max drawdown (400d) | -32.5% | -81.4% |
| Risk-adjusted return (90d) | -0.28 | 0.19 |
| Best 30 days (past year) | — | +66.2% |
| Worst 30 days (past year) | — | -57.1% |
Relative strength over 90 days: FIL outperformed ELF by 11.1% — measured on the ELF/FIL ratio, so it holds regardless of market direction.