THORChain (RUNE) is 384.9× the size of Allbridge Zero (ABR0) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 20 shared trading days). ABR0 has been the more volatile of the two, at 928% annualised against RUNE's 75%.
ABR0RUNE
-0.04over 20 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 | ABR0 | RUNE |
|---|---|---|
| Max drawdown (400d) | -53.8% | -73.7% |
| Risk-adjusted return (90d) | — | 0.50 |
| Best 30 days (past year) | — | +66.7% |
| Worst 30 days (past year) | — | -42.7% |
Relative strength over 90 days: ABR0 outperformed RUNE by 6.7% — measured on the ABR0/RUNE ratio, so it holds regardless of market direction.