Virtuals Protocol (VIRTUAL) is 15443.3× the size of Clawnet (CLAWNET) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 102 shared trading days). CLAWNET has been the more volatile of the two, at 231% annualised against VIRTUAL's 119%.
CLAWNETVIRTUAL
0.45over 102 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 | CLAWNET | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -98.5% | -71.7% |
| Risk-adjusted return (90d) | -0.05 | 0.00 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed CLAWNET by 4.6% — measured on the CLAWNET/VIRTUAL ratio, so it holds regardless of market direction.