Internet Computer (ICP) is 375132.4× the size of Elysionyx by Virtuals (ELYS) by market capitalisation. Their daily returns move loosely together (correlation 0.48 across 86 shared trading days). ELYS has been the more volatile of the two, at 219% annualised against ICP's 108%.
ELYSICP
0.48over 86 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 | ELYS | ICP |
|---|---|---|
| Max drawdown (400d) | -58.5% | -77.4% |
| Risk-adjusted return (90d) | -0.24 | 0.29 |
| Best 30 days (past year) | — | +49.6% |
| Worst 30 days (past year) | — | -62.1% |
Relative strength over 90 days: ICP outperformed ELYS by 55.1% — measured on the ELYS/ICP ratio, so it holds regardless of market direction.