Ethereum (ETH) is 290163.0× the size of Lumentum Holdings (bStocks Tokenized Stock) (LITEB) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 82 shared trading days). LITEB has been the more volatile of the two, at 107% annualised against ETH's 65%.
| Period | LITEB | ETH | Ahead |
|---|---|---|---|
| 7 days | -0.72% | +4.23% | ETH |
| 30 days | +5.74% | +13.15% | ETH |
| 90 days | +7.54% | +54.23% | ETH |
| 1 year | — | -41.08% | — |
| Metric | LITEB | ETH |
|---|---|---|
| Max drawdown (400d) | -30.4% | -67.5% |
| Risk-adjusted return (90d) | 0.07 | 0.97 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed LITEB by 35.8% — measured on the LITEB/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.