Polkadot (DOT) is 147.7× the size of ICON (ICX) by market capitalisation. Over the past 1 year, DOT is ahead by 29.1 percentage points (ICX -92.8% against DOT -63.7%). Their daily returns move closely together (correlation 0.70 across 337 shared trading days). Both have run at a similar volatility, around 83% annualised.
ICXDOT
0.70over 337 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 | ICX | DOT |
|---|---|---|
| Max drawdown (400d) | -93.0% | -82.9% |
| Risk-adjusted return (90d) | -0.98 | 0.13 |
| Best 30 days (past year) | — | +55.9% |
| Worst 30 days (past year) | — | -44.2% |
Relative strength over 90 days: DOT outperformed ICX by 69.2% — measured on the ICX/DOT ratio, so it holds regardless of market direction.