Pyth Network (PYTH) is 78989.6× the size of Kolytics (KOLT) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 116 shared trading days). KOLT has been the more volatile of the two, at 178% annualised against PYTH's 98%.
KOLTPYTH
0.41over 116 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 | KOLT | PYTH |
|---|---|---|
| Max drawdown (400d) | -98.9% | -81.1% |
| Risk-adjusted return (90d) | -0.52 | 0.78 |
| Best 30 days (past year) | — | +76.8% |
| Worst 30 days (past year) | — | -46.7% |
Relative strength over 90 days: PYTH outperformed KOLT by 95.2% — measured on the KOLT/PYTH ratio, so it holds regardless of market direction.