Ethena USDe (USDE) is 1157.6× the size of Limitless (LMTS) by market capitalisation. Over the past 1 year, USDE is ahead by 88.2 percentage points (LMTS -88.1% against USDE +0.1%). Their daily returns move barely in opposite directions (correlation -0.03 across 347 shared trading days). LMTS has been the more volatile of the two, at 206% annualised against USDE's 0%.
LMTSUSDE
-0.03over 347 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 | LMTS | USDE |
|---|---|---|
| Max drawdown (400d) | -92.5% | -0.3% |
| Risk-adjusted return (90d) | -0.42 | -0.02 |
| Best 30 days (past year) | — | +0.1% |
| Worst 30 days (past year) | — | -0.1% |
Relative strength over 90 days: USDE outperformed LMTS by 59.9% — measured on the LMTS/USDE ratio, so it holds regardless of market direction.