The Graph (GRT) is 4.1× the size of io.net (IO) by market capitalisation. Over the past 1 year, IO is ahead by 11.2 percentage points (IO -54.2% against GRT -65.4%). Their daily returns move closely together (correlation 0.70 across 399 shared trading days). IO has been the more volatile of the two, at 106% annualised against GRT's 85%.
IOGRT
0.70over 399 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 | IO | GRT |
|---|---|---|
| Max drawdown (400d) | -83.1% | -85.1% |
| Risk-adjusted return (90d) | -0.01 | 0.30 |
| Best 30 days (past year) | +66.9% | +115.0% |
| Worst 30 days (past year) | -48.7% | -41.8% |
Relative strength over 90 days: GRT outperformed IO by 25.3% — measured on the IO/GRT ratio, so it holds regardless of market direction.