Ethereum (ETH) is 4893033.1× the size of Hiblocks (HIBS) by market capitalisation. Over the past 1 year, HIBS is ahead by 92.3 percentage points (HIBS +66.0% against ETH -26.2%). Their daily returns move barely in opposite directions (correlation -0.06 across 362 shared trading days). HIBS has been the more volatile of the two, at 212% annualised against ETH's 62%.
HIBSETH
-0.06over 362 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 | HIBS | ETH |
|---|---|---|
| Max drawdown (400d) | -58.4% | -66.5% |
| Risk-adjusted return (90d) | 0.30 | 0.50 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed HIBS by 20.6% — measured on the HIBS/ETH ratio, so it holds regardless of market direction.