Hedera (HBAR) is 16.7× the size of IOTA (IOTA) by market capitalisation. Over the past 1 year, HBAR is ahead by 9.7 percentage points (HBAR -61.5% against IOTA -71.1%). Their daily returns move closely together (correlation 0.75 across 399 shared trading days). Both have run at a similar volatility, around 75% annualised.
HBARIOTA
0.75over 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 | HBAR | IOTA |
|---|---|---|
| Max drawdown (400d) | -71.9% | -83.5% |
| Risk-adjusted return (90d) | -0.01 | 0.13 |
| Best 30 days (past year) | +61.6% | +51.5% |
| Worst 30 days (past year) | -39.4% | -45.9% |
Relative strength over 90 days: IOTA outperformed HBAR by 10.3% — measured on the HBAR/IOTA ratio, so it holds regardless of market direction.