deBridge (DBR) is 3.0× the size of Celer Network (CELR) by market capitalisation. Their daily returns move very closely together (correlation 0.85 across 56 shared trading days). DBR has been the more volatile of the two, at 126% annualised against CELR's 90%.
CELRDBR
0.85over 56 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 | CELR | DBR |
|---|---|---|
| Max drawdown (400d) | -81.7% | -46.1% |
| Risk-adjusted return (90d) | 0.37 | -0.12 |
| Best 30 days (past year) | +59.5% | — |
| Worst 30 days (past year) | -48.1% | — |
Relative strength over 90 days: CELR outperformed DBR by 41.0% — measured on the CELR/DBR ratio, so it holds regardless of market direction.