Chainlink (LINK) is 4.5× the size of Ondo (ONDO) by market capitalisation. Over the past 1 year, LINK is ahead by 11.3 percentage points (LINK -29.2% against ONDO -40.6%). Their daily returns move closely together (correlation 0.73 across 399 shared trading days). ONDO has been the more volatile of the two, at 95% annualised against LINK's 71%.
LINKONDO
0.73over 399 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 | LINK | ONDO |
|---|---|---|
| Max drawdown (400d) | -69.2% | -76.6% |
| Risk-adjusted return (90d) | 0.40 | 0.05 |
| Best 30 days (past year) | +61.6% | +76.6% |
| Worst 30 days (past year) | -43.6% | -50.8% |
Relative strength over 90 days: LINK outperformed ONDO by 23.8% — measured on the LINK/ONDO ratio, so it holds regardless of market direction.