Lido DAO (LDO) is 18.0× the size of dKargo (DKA) by market capitalisation. Over the past 1 year, LDO is ahead by 21.0 percentage points (DKA -76.1% against LDO -55.1%). Their daily returns move loosely together (correlation 0.36 across 365 shared trading days). Both have run at a similar volatility, around 94% annualised.
DKALDO
0.36over 365 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 | DKA | LDO |
|---|---|---|
| Max drawdown (400d) | -76.7% | -81.5% |
| Risk-adjusted return (90d) | -0.30 | 0.14 |
| Best 30 days (past year) | — | +58.2% |
| Worst 30 days (past year) | — | -51.2% |
Relative strength over 90 days: LDO outperformed DKA by 40.6% — measured on the DKA/LDO ratio, so it holds regardless of market direction.