Dai (DAI) is 1.5× the size of Gram (prev. Toncoin) (GRAM) by market capitalisation. Their daily returns move barely together (correlation 0.20 across 51 shared trading days). GRAM has been the more volatile of the two, at 59% annualised against DAI's 1%.
DAIGRAM
0.20over 51 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 | DAI | GRAM |
|---|---|---|
| Max drawdown (400d) | -0.1% | -42.8% |
| Risk-adjusted return (90d) | 0.01 | -0.34 |
Relative strength over 90 days: DAI outperformed GRAM by 39.9% — measured on the DAI/GRAM ratio, so it holds regardless of market direction.