Pyth Network (PYTH) is 1169.4× the size of DappRadar (RADAR) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 39 shared trading days). RADAR has been the more volatile of the two, at 137% annualised against PYTH's 98%.
RADARPYTH
0.25over 39 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 | RADAR | PYTH |
|---|---|---|
| Max drawdown (400d) | -53.9% | -81.1% |
| Risk-adjusted return (90d) | -0.39 | 0.70 |
| Best 30 days (past year) | — | +76.8% |
| Worst 30 days (past year) | — | -46.7% |
Relative strength over 90 days: PYTH outperformed RADAR by 64.5% — measured on the RADAR/PYTH ratio, so it holds regardless of market direction.