Ligo (Ordinals) (LIGO) and ORDI (ORDI) compared side by side. Over the past 1 year, ORDI is ahead by 3.4 percentage points (LIGO -18.8% against ORDI -15.3%). Their daily returns move barely together (correlation 0.11 across 364 shared trading days). LIGO has been the more volatile of the two, at 230% annualised against ORDI's 189%.
LIGOORDI
0.11over 364 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 | LIGO | ORDI |
|---|---|---|
| Max drawdown (400d) | -93.8% | -75.7% |
| Risk-adjusted return (90d) | -0.55 | 0.01 |
| Best 30 days (past year) | — | +216.7% |
| Worst 30 days (past year) | — | -49.7% |
Relative strength over 90 days: ORDI outperformed LIGO by 91.1% — measured on the LIGO/ORDI ratio, so it holds regardless of market direction.