EigenCloud (prev. EigenLayer) (EIGEN) is 2108.6× the size of IDLE Protocol (IDLE) by market capitalisation. Their daily returns move barely together (correlation 0.13 across 39 shared trading days). IDLE has been the more volatile of the two, at 381% annualised against EIGEN's 107%.
$0.166200
IDLEEIGEN
0.13over 39 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 | IDLE | EIGEN |
|---|---|---|
| Max drawdown (400d) | -41.5% | -92.3% |
| Risk-adjusted return (90d) | 0.07 | 0.02 |
| Best 30 days (past year) | — | +46.0% |
| Worst 30 days (past year) | — | -55.2% |
Relative strength over 90 days: IDLE outperformed EIGEN by 34.7% — measured on the IDLE/EIGEN ratio, so it holds regardless of market direction.