Ethereum (ETH) is 5712593.5× the size of MemeDAO (MEMD) by market capitalisation. Their daily returns move very closely together (correlation 0.93 across 75 shared trading days). MEMD has been the more volatile of the two, at 158% annualised against ETH's 62%.
MEMDETH
0.93over 75 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 | MEMD | ETH |
|---|---|---|
| Max drawdown (400d) | -71.0% | -66.5% |
| Risk-adjusted return (90d) | -0.36 | 0.50 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed MEMD by 13.8% — measured on the MEMD/ETH ratio, so it holds regardless of market direction.