Gnosis (GNO) is 26.2× the size of Elastos (ELA) by market capitalisation. Over the past 1 year, GNO is ahead by 58.9 percentage points (ELA -72.2% against GNO -13.3%). Their daily returns move barely together (correlation 0.21 across 373 shared trading days). ELA has been the more volatile of the two, at 157% annualised against GNO's 58%.
ELAGNO
0.21over 373 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 | ELA | GNO |
|---|---|---|
| Max drawdown (400d) | -87.3% | -42.5% |
| Risk-adjusted return (90d) | 0.27 | 0.03 |
| Best 30 days (past year) | +83.0% | +29.3% |
| Worst 30 days (past year) | -47.5% | -32.7% |
Relative strength over 90 days: ELA outperformed GNO by 65.0% — measured on the ELA/GNO ratio, so it holds regardless of market direction.