NEAR Protocol (NEAR) is 28.2× the size of EigenCloud (prev. EigenLayer) (EIGEN) by market capitalisation. Over the past 1 year, NEAR is ahead by 176.8 percentage points (EIGEN -76.4% against NEAR +100.4%). Their daily returns move closely together (correlation 0.67 across 399 shared trading days). Both have run at a similar volatility, around 109% annualised.
$0.184200
EIGENNEAR
0.67over 399 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 | EIGEN | NEAR |
|---|---|---|
| Max drawdown (400d) | -92.3% | -68.7% |
| Risk-adjusted return (90d) | -0.02 | 0.98 |
| Best 30 days (past year) | +46.0% | +195.3% |
| Worst 30 days (past year) | -55.2% | -48.1% |
Relative strength over 90 days: NEAR outperformed EIGEN by 56.7% — measured on the EIGEN/NEAR ratio, so it holds regardless of market direction.