Ethereum (ETH) is 5700.9× the size of FONQ (FONQ) by market capitalisation. Their daily returns move closely together (correlation 0.71 across 31 shared trading days). ETH has been the more volatile of the two, at 65% annualised against FONQ's 26%.
| Period | FONQ | ETH | Ahead |
|---|---|---|---|
| 7 days | +1.98% | +4.23% | ETH |
| 30 days | +5.23% | +13.15% | ETH |
| 90 days | — | +54.23% | — |
| 1 year | — | -41.08% | — |
| Metric | FONQ | ETH |
|---|---|---|
| Max drawdown (400d) | -3.0% | -67.5% |
| Risk-adjusted return (90d) | 0.20 | 0.97 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed FONQ by 7.0% — measured on the FONQ/ETH ratio, so it holds regardless of market direction.
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.