Ethereum (ETH) is 9862.5× the size of Gold Park (GPT) by market capitalisation. Their daily returns move closely in opposite directions (correlation -0.63 across 41 shared trading days). GPT has been the more volatile of the two, at 244% annualised against ETH's 62%.
GPTETH
-0.63over 41 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 | GPT | ETH |
|---|---|---|
| Max drawdown (400d) | -40.3% | -66.5% |
| Risk-adjusted return (90d) | 0.01 | 0.36 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: GPT outperformed ETH by 9.8% — measured on the GPT/ETH ratio, so it holds regardless of market direction.