Chainlink (LINK) is 1028742.0× the size of MatrixETF (MDF) by market capitalisation. Over the past 1 year, LINK is ahead by 25.4 percentage points (MDF -47.4% against LINK -22.0%). Their daily returns move barely in opposite directions (correlation -0.11 across 372 shared trading days). LINK has been the more volatile of the two, at 71% annualised against MDF's 42%.
MDFLINK
-0.11over 372 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 | MDF | LINK |
|---|---|---|
| Max drawdown (400d) | -50.1% | -69.2% |
| Risk-adjusted return (90d) | -0.48 | 0.53 |
| Best 30 days (past year) | +3.5% | +61.6% |
| Worst 30 days (past year) | -35.5% | -43.6% |
Relative strength over 90 days: LINK outperformed MDF by 57.2% — measured on the MDF/LINK ratio, so it holds regardless of market direction.