Cardano (ADA) is 1.7× the size of Rain (RAIN) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 61 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against ADA's 78%.
ADARAIN
-0.14over 61 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 | ADA | RAIN |
|---|---|---|
| Max drawdown (400d) | -83.5% | -69.7% |
| Risk-adjusted return (90d) | -0.10 | -0.41 |
| Best 30 days (past year) | +38.4% | — |
| Worst 30 days (past year) | -42.7% | — |
Relative strength over 90 days: ADA outperformed RAIN by 133.7% — measured on the ADA/RAIN ratio, so it holds regardless of market direction.