Virtuals Protocol (VIRTUAL) is 2.1× the size of EigenCloud (prev. EigenLayer) (EIGEN) by market capitalisation. Over the past 1 year, VIRTUAL is ahead by 16.8 percentage points (EIGEN -76.4% against VIRTUAL -59.6%). Their daily returns move closely together (correlation 0.64 across 399 shared trading days). Both have run at a similar volatility, around 114% annualised.
$0.184200
EIGENVIRTUAL
0.64over 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 | VIRTUAL |
|---|---|---|
| Max drawdown (400d) | -92.3% | -71.7% |
| Risk-adjusted return (90d) | -0.02 | 0.04 |
| Best 30 days (past year) | +46.0% | +47.4% |
| Worst 30 days (past year) | -55.2% | -54.7% |
Relative strength over 90 days: VIRTUAL outperformed EIGEN by 5.6% — measured on the EIGEN/VIRTUAL ratio, so it holds regardless of market direction.