Chainlink (LINK) is 1990.6× the size of Arowana (ARW) by market capitalisation. Over the past 1 year, LINK is ahead by 40.2 percentage points (ARW -67.8% against LINK -27.7%). Their daily returns move barely together (correlation 0.03 across 364 shared trading days). ARW has been the more volatile of the two, at 229% annualised against LINK's 71%.
ARWLINK
0.03over 364 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 | ARW | LINK |
|---|---|---|
| Max drawdown (400d) | -97.3% | -69.2% |
| Risk-adjusted return (90d) | -0.24 | 0.47 |
| Best 30 days (past year) | — | +61.6% |
| Worst 30 days (past year) | — | -43.6% |
Relative strength over 90 days: LINK outperformed ARW by 93.9% — measured on the ARW/LINK ratio, so it holds regardless of market direction.