Ethereum (ETH) is 33.0× the size of Chainlink (LINK) by market capitalisation. Over the past 1 year, LINK is ahead by 9.2 percentage points (ETH -36.9% against LINK -27.7%). Their daily returns move very closely together (correlation 0.86 across 399 shared trading days). LINK has been the more volatile of the two, at 71% annualised against ETH's 62%.
ETHLINK
0.86over 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 | ETH | LINK |
|---|---|---|
| Max drawdown (400d) | -66.5% | -69.2% |
| Risk-adjusted return (90d) | 0.36 | 0.47 |
| Best 30 days (past year) | +34.1% | +61.6% |
| Worst 30 days (past year) | -44.6% | -43.6% |
Relative strength over 90 days: LINK outperformed ETH by 11.8% — measured on the ETH/LINK ratio, so it holds regardless of market direction.