Ligo (Ordinals) (LIGO) and Trio (Ordinals) (TRIO) compared side by side. Their daily returns move barely together (correlation 0.18 across 29 shared trading days). LIGO has been the more volatile of the two, at 230% annualised against TRIO's 198%.
LIGOTRIO
0.18over 29 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 | TRIO |
|---|---|---|
| Max drawdown (400d) | -93.8% | -30.3% |
| Risk-adjusted return (90d) | -0.55 | 0.12 |
Relative strength over 90 days: TRIO outperformed LIGO by 49.8% — measured on the LIGO/TRIO ratio, so it holds regardless of market direction.