DoubleZero (2Z) is 12.3× the size of Bitlight (LIGHT) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.48 across 103 shared trading days). LIGHT has been the more volatile of the two, at 149% annualised against 2Z's 100%.
LIGHT2Z
-0.48over 103 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 | LIGHT | 2Z |
|---|---|---|
| Max drawdown (400d) | -29.0% | -96.1% |
| Risk-adjusted return (90d) | 0.66 | -0.57 |
| Best 30 days (past year) | — | +35.8% |
| Worst 30 days (past year) | — | -61.3% |
Relative strength over 90 days: LIGHT outperformed 2Z by 431.3% — measured on the LIGHT/2Z ratio, so it holds regardless of market direction.