Ethereum (ETH) is 952859.5× the size of America's Official Launchpad (AOL) by market capitalisation. Their daily returns move loosely together (correlation 0.43 across 38 shared trading days). AOL has been the more volatile of the two, at 204% annualised against ETH's 62%.
$0.000314
AOLETH
0.43over 38 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 | AOL | ETH |
|---|---|---|
| Max drawdown (400d) | -76.5% | -66.5% |
| Risk-adjusted return (90d) | -0.32 | 0.36 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed AOL by 63.5% — measured on the AOL/ETH ratio, so it holds regardless of market direction.