Internet Computer (ICP) is 10.3× the size of Onyxcoin (XCN) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 57 shared trading days). Both have run at a similar volatility, around 109% annualised.
XCNICP
0.46over 57 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 | XCN | ICP |
|---|---|---|
| Max drawdown (400d) | -31.9% | -77.4% |
| Risk-adjusted return (90d) | 0.20 | 0.25 |
| Best 30 days (past year) | — | +49.6% |
| Worst 30 days (past year) | — | -62.1% |
Relative strength over 90 days: XCN outperformed ICP by 9.7% — measured on the XCN/ICP ratio, so it holds regardless of market direction.