Internet Computer (ICP) is 13.7× the size of MultiversX (EGLD) by market capitalisation. Over the past 1 year, ICP is ahead by 23.8 percentage points (EGLD -60.3% against ICP -36.5%). Their daily returns move loosely together (correlation 0.50 across 399 shared trading days). ICP has been the more volatile of the two, at 108% annualised against EGLD's 90%.
EGLDICP
0.50over 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 | EGLD | ICP |
|---|---|---|
| Max drawdown (400d) | -82.3% | -77.4% |
| Risk-adjusted return (90d) | 0.20 | 0.25 |
| Best 30 days (past year) | +95.7% | +49.6% |
| Worst 30 days (past year) | -41.5% | -62.1% |
Relative strength over 90 days: EGLD outperformed ICP by 0.9% — measured on the EGLD/ICP ratio, so it holds regardless of market direction.