DeepBook vs Lighter

Lighter (LIT) is 21.7× the size of DeepBook (DEEP) by market capitalisation. Over the past 30 days, DEEP is ahead by 13.9 percentage points (DEEP +6.3% against LIT -7.6%). Their daily returns move loosely together (correlation 0.60 across 21 shared trading days). Both have run at a similar volatility, around 119% annualised.

Correlation: 0.60
Size ratio: 1 : 21.7
Ahead over 30 days: DEEP

DeepBookDEEP

$0.015829

24h: +0.85%
Market cap: $39.57M
Volume 24h: $4.47M
Volatility (ann.): 119%

LighterLIT

$0.743000

24h: +4.50%
Market cap: $857.48M
Volume 24h: $139.36M
Volatility (ann.): 120%

DEEP 4.4%Share of the two combined market caps95.6% LIT

Performance

DEEPLIT

7 days-5.89%+11.51%LIT
30 days+6.27%-7.63%DEEP

Correlation

0.60over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	DEEP	LIT
Max drawdown (400d)	-36.0%	-42.9%
Risk-adjusted return (90d)	0.14	-0.25

Relative strength over 90 days: LIT outperformed DEEP by 3.0% — measured on the DEEP/LIT ratio, so it holds regardless of market direction.

DeepBook →Lighter →