Ethereum (ETH) is 9.3× the size of TRON (TRX) by market capitalisation. Over the past 1 year, TRX is ahead by 51.2 percentage points (ETH -36.9% against TRX +14.4%). Their daily returns move barely together (correlation 0.35 across 399 shared trading days). ETH has been the more volatile of the two, at 62% annualised against TRX's 26%.
ETHTRX
0.35over 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 | TRX |
|---|---|---|
| Max drawdown (400d) | -66.5% | -22.1% |
| Risk-adjusted return (90d) | 0.36 | -0.06 |
| Best 30 days (past year) | +34.1% | +16.1% |
| Worst 30 days (past year) | -44.6% | -13.8% |
Relative strength over 90 days: ETH outperformed TRX by 21.3% — measured on the ETH/TRX ratio, so it holds regardless of market direction.