Internet Computer (ICP) is 143.7× the size of Marlin (POND) by market capitalisation. Over the past 1 year, ICP is ahead by 48.3 percentage points (POND -84.7% against ICP -36.5%). Their daily returns move loosely together (correlation 0.37 across 316 shared trading days). POND has been the more volatile of the two, at 191% annualised against ICP's 108%.
PONDICP
0.37over 316 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 | POND | ICP |
|---|---|---|
| Max drawdown (400d) | -90.3% | -77.4% |
| Risk-adjusted return (90d) | -0.08 | 0.25 |
| Best 30 days (past year) | — | +49.6% |
| Worst 30 days (past year) | — | -62.1% |
Relative strength over 90 days: ICP outperformed POND by 20.3% — measured on the POND/ICP ratio, so it holds regardless of market direction.