Rain (RAIN) is 7.1× the size of Ether.fi (ETHFI) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.16 across 58 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against ETHFI's 100%.
ETHFIRAIN
-0.16over 58 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 | ETHFI | RAIN |
|---|---|---|
| Max drawdown (400d) | -84.3% | -68.5% |
| Risk-adjusted return (90d) | 0.54 | -0.37 |
| Best 30 days (past year) | +78.6% | — |
| Worst 30 days (past year) | -46.6% | — |
Relative strength over 90 days: ETHFI outperformed RAIN by 127.6% — measured on the ETHFI/RAIN ratio, so it holds regardless of market direction.