Ice Open Network vs Pi Network

Pi Network (PI) is 1738.6× the size of Ice Open Network (ICE) by market capitalisation. Over the past 30 days, PI is ahead by 2.1 percentage points (ICE -21.7% against PI -19.6%). Their daily returns move barely together (correlation 0.11 across 23 shared trading days). ICE has been the more volatile of the two, at 106% annualised against PI's 41%.

Correlation: 0.11
Size ratio: 1 : 1738.6
Ahead over 30 days: PI

Ice Open NetworkICE

$7.243e-5

24h: —
Market cap: $492,019
Volume 24h: —
Volatility (ann.): 106%

Pi NetworkPI

$0.075378

24h: -1.17%
Market cap: $855.44M
Volume 24h: $5.20M
Volatility (ann.): 41%

ICE 0.1%Share of the two combined market caps99.9% PI

Performance

ICEPI

7 days-7.99%+0.02%PI
30 days-21.73%-19.65%PI

Correlation

0.11over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	ICE	PI
Max drawdown (400d)	-28.7%	-23.1%
Risk-adjusted return (90d)	-0.17	-0.26

Relative strength over 90 days: PI outperformed ICE by 13.4% — measured on the ICE/PI ratio, so it holds regardless of market direction.

Ice Open Network →Pi Network →