Chainlink (LINK) is 223122.0× the size of Houdini Swap (LOCK) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 30 shared trading days). LOCK has been the more volatile of the two, at 437% annualised against LINK's 71%.
LOCKLINK
-0.15over 30 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 | LOCK | LINK |
|---|---|---|
| Max drawdown (400d) | -73.7% | -69.2% |
| Risk-adjusted return (90d) | -0.09 | 0.40 |
| Best 30 days (past year) | — | +61.6% |
| Worst 30 days (past year) | — | -43.6% |
Relative strength over 90 days: LINK outperformed LOCK by 17.9% — measured on the LOCK/LINK ratio, so it holds regardless of market direction.