Meter Governance (MTRG) and Ethereum (ETH) compared side by side. Over the past 1 year, ETH is ahead by 72.6 percentage points (MTRG -98.9% against ETH -26.2%). Their daily returns move barely together (correlation 0.14 across 362 shared trading days). MTRG has been the more volatile of the two, at 125% annualised against ETH's 62%.
MTRGETH
0.14over 362 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 | MTRG | ETH |
|---|---|---|
| Max drawdown (400d) | -98.9% | -66.5% |
| Risk-adjusted return (90d) | -0.46 | 0.50 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed MTRG by 93.7% — measured on the MTRG/ETH ratio, so it holds regardless of market direction.