Internet Computer (ICP) is 776.1× the size of Dragonchain (DRGN) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 40 shared trading days). DRGN has been the more volatile of the two, at 195% annualised against ICP's 108%.
DRGNICP
0.24over 40 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 | DRGN | ICP |
|---|---|---|
| Max drawdown (400d) | -30.9% | -77.4% |
| Risk-adjusted return (90d) | -0.05 | 0.25 |
| Best 30 days (past year) | — | +49.6% |
| Worst 30 days (past year) | — | -62.1% |
Relative strength over 90 days: ICP outperformed DRGN by 15.6% — measured on the DRGN/ICP ratio, so it holds regardless of market direction.