Virtuals Protocol (VIRTUAL) is 1776.3× the size of DeepNode (DN) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 265 shared trading days). DN has been the more volatile of the two, at 313% annualised against VIRTUAL's 119%.
DNVIRTUAL
-0.05over 265 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 | DN | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -98.5% | -71.7% |
| Risk-adjusted return (90d) | -0.36 | 0.06 |
| Best 30 days (past year) | — | +47.4% |
| Worst 30 days (past year) | — | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed DN by 87.9% — measured on the DN/VIRTUAL ratio, so it holds regardless of market direction.