Algorand (ALGO) is 23.6× the size of Casper Network (CSPR) by market capitalisation. Their daily returns move barely together (correlation 0.32 across 54 shared trading days). CSPR has been the more volatile of the two, at 119% annualised against ALGO's 78%.
CSPRALGO
0.32over 54 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 | CSPR | ALGO |
|---|---|---|
| Max drawdown (400d) | -30.7% | -66.2% |
| Risk-adjusted return (90d) | -0.18 | 0.07 |
| Best 30 days (past year) | — | +54.9% |
| Worst 30 days (past year) | — | -37.9% |
Relative strength over 90 days: ALGO outperformed CSPR by 25.3% — measured on the CSPR/ALGO ratio, so it holds regardless of market direction.