Chainlink (LINK) is 16.2× the size of Pyth Network (PYTH) by market capitalisation. Over the past 1 year, LINK is ahead by 4.5 percentage points (LINK -29.2% against PYTH -33.8%). Their daily returns move closely together (correlation 0.68 across 399 shared trading days). PYTH has been the more volatile of the two, at 98% annualised against LINK's 71%.
LINKPYTH
0.68over 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 | PYTH |
|---|---|---|
| Max drawdown (400d) | -69.2% | -81.1% |
| Risk-adjusted return (90d) | 0.40 | 0.68 |
| Best 30 days (past year) | +61.6% | +76.8% |
| Worst 30 days (past year) | -43.6% | -46.7% |
Relative strength over 90 days: PYTH outperformed LINK by 20.6% — measured on the LINK/PYTH ratio, so it holds regardless of market direction.