THORChain (RUNE) is 2229.3× the size of BoringDAO (BORING) by market capitalisation. Their daily returns move closely together (correlation 0.62 across 128 shared trading days). BORING has been the more volatile of the two, at 115% annualised against RUNE's 75%.
BORINGRUNE
0.62over 128 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 | BORING | RUNE |
|---|---|---|
| Max drawdown (400d) | -73.9% | -73.7% |
| Risk-adjusted return (90d) | -0.39 | 0.54 |
| Best 30 days (past year) | — | +66.7% |
| Worst 30 days (past year) | — | -42.7% |
Relative strength over 90 days: RUNE outperformed BORING by 51.6% — measured on the BORING/RUNE ratio, so it holds regardless of market direction.