Chainlink (LINK) is 10672.2× the size of Chirp Token (CHIRP) by market capitalisation. Their daily returns move barely together (correlation 0.26 across 106 shared trading days). CHIRP has been the more volatile of the two, at 313% annualised against LINK's 71%.
CHIRPLINK
0.26over 106 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 | CHIRP | LINK |
|---|---|---|
| Max drawdown (400d) | -61.0% | -69.2% |
| Risk-adjusted return (90d) | -0.02 | 0.47 |
| Best 30 days (past year) | — | +61.6% |
| Worst 30 days (past year) | — | -43.6% |
Relative strength over 90 days: LINK outperformed CHIRP by 34.8% — measured on the CHIRP/LINK ratio, so it holds regardless of market direction.