Lighter (LIT) is 59.7× the size of Coin98 (C98) by market capitalisation. Their daily returns move barely together (correlation 0.33 across 40 shared trading days). Both have run at a similar volatility, around 116% annualised.
C98LIT
0.33over 40 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 | C98 | LIT |
|---|---|---|
| Max drawdown (400d) | -82.8% | -42.9% |
| Risk-adjusted return (90d) | 0.00 | -0.25 |
| Best 30 days (past year) | +41.8% | — |
| Worst 30 days (past year) | -39.5% | — |
Relative strength over 90 days: C98 outperformed LIT by 9.5% — measured on the C98/LIT ratio, so it holds regardless of market direction.