Ethereum (ETH) is 1165.3× the size of Kite (KITE) by market capitalisation. Over the past 1 year, KITE is ahead by 89.5 percentage points (KITE +48.4% against ETH -41.1%). Their daily returns move barely together (correlation 0.30 across 321 shared trading days). KITE has been the more volatile of the two, at 124% annualised against ETH's 65%.
| Period | KITE | ETH | Ahead |
|---|---|---|---|
| 7 days | +6.39% | +4.23% | KITE |
| 30 days | +16.41% | +13.15% | KITE |
| 90 days | -29.94% | +54.23% | ETH |
| 1 year | +48.45% | -41.08% | KITE |
| Metric | KITE | ETH |
|---|---|---|
| Max drawdown (400d) | -69.5% | -67.5% |
| Risk-adjusted return (90d) | -0.33 | 0.97 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed KITE by 54.6% — measured on the KITE/ETH ratio, so it holds regardless of market direction.
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.