Magic Eden (ME) is 1.3× the size of Blur (BLUR) by market capitalisation. Over the past 1 year, BLUR is ahead by 5.2 percentage points (BLUR -81.6% against ME -86.8%). Their daily returns move loosely together (correlation 0.54 across 399 shared trading days). BLUR has been the more volatile of the two, at 114% annualised against ME's 89%.
BLURME
0.54over 399 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 | BLUR | ME |
|---|---|---|
| Max drawdown (400d) | -90.8% | -92.0% |
| Risk-adjusted return (90d) | -0.41 | -0.18 |
| Best 30 days (past year) | +78.9% | +31.2% |
| Worst 30 days (past year) | -65.4% | -52.5% |
Relative strength over 90 days: ME outperformed BLUR by 35.7% — measured on the BLUR/ME ratio, so it holds regardless of market direction.