Moon DAO (MOONEY) and OriginTrail (TRAC) compared side by side. Their daily returns move barely together (correlation 0.14 across 45 shared trading days). TRAC has been the more volatile of the two, at 104% annualised against MOONEY's 84%.
MOONEYTRAC
0.14over 45 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 | MOONEY | TRAC |
|---|---|---|
| Max drawdown (400d) | -66.3% | -22.2% |
| Risk-adjusted return (90d) | -0.09 | 0.29 |
| Best 30 days (past year) | +36.3% | — |
| Worst 30 days (past year) | -43.5% | — |
Relative strength over 90 days: TRAC outperformed MOONEY by 17.4% — measured on the MOONEY/TRAC ratio, so it holds regardless of market direction.