Chainlink (LINK) is 763.7× the size of KernelDAO (KERNEL) by market capitalisation. Over the past 1 year, LINK is ahead by 29.3 percentage points (KERNEL -57.0% against LINK -27.7%). Their daily returns move loosely together (correlation 0.51 across 399 shared trading days). KERNEL has been the more volatile of the two, at 109% annualised against LINK's 71%.
KERNELLINK
0.51over 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 | KERNEL | LINK |
|---|---|---|
| Max drawdown (400d) | -86.2% | -69.2% |
| Risk-adjusted return (90d) | 0.41 | 0.47 |
| Best 30 days (past year) | +79.7% | +61.6% |
| Worst 30 days (past year) | -48.1% | -43.6% |
Relative strength over 90 days: KERNEL outperformed LINK by 3.5% — measured on the KERNEL/LINK ratio, so it holds regardless of market direction.