Pyth Network (PYTH) is 289.8× the size of MCNCOIN (MCN) by market capitalisation. Over the past 1 year, PYTH is ahead by 7.2 percentage points (MCN -38.3% against PYTH -31.1%). Their daily returns move barely together (correlation 0.07 across 369 shared trading days). MCN has been the more volatile of the two, at 216% annualised against PYTH's 98%.
MCNPYTH
0.07over 369 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 | MCN | PYTH |
|---|---|---|
| Max drawdown (400d) | -82.5% | -81.1% |
| Risk-adjusted return (90d) | 0.05 | 0.70 |
| Best 30 days (past year) | +214.0% | +76.8% |
| Worst 30 days (past year) | -64.0% | -46.7% |
Relative strength over 90 days: PYTH outperformed MCN by 16.3% — measured on the MCN/PYTH ratio, so it holds regardless of market direction.