Ondo (ONDO) is 141.7× the size of Mey Network (MEY) by market capitalisation. Over the past 1 year, ONDO is ahead by 41.1 percentage points (MEY -77.7% against ONDO -36.5%). Their daily returns move barely together (correlation 0.20 across 373 shared trading days). Both have run at a similar volatility, around 89% annualised.
MEYONDO
0.20over 373 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 | MEY | ONDO |
|---|---|---|
| Max drawdown (400d) | -79.2% | -76.6% |
| Risk-adjusted return (90d) | -0.15 | 0.04 |
| Best 30 days (past year) | +51.2% | +76.6% |
| Worst 30 days (past year) | -46.6% | -50.8% |
Relative strength over 90 days: ONDO outperformed MEY by 26.5% — measured on the MEY/ONDO ratio, so it holds regardless of market direction.