Solana (SOL) is 1944.5× the size of Moonriver (MOVR) by market capitalisation. Over the past 1 year, SOL is ahead by 23.1 percentage points (MOVR -67.2% against SOL -44.1%). Their daily returns move barely together (correlation 0.30 across 399 shared trading days). MOVR has been the more volatile of the two, at 181% annualised against SOL's 66%.
MOVRSOL
0.30over 399 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 | MOVR | SOL |
|---|---|---|
| Max drawdown (400d) | -87.9% | -73.5% |
| Risk-adjusted return (90d) | -0.03 | 0.44 |
| Best 30 days (past year) | +273.5% | +47.8% |
| Worst 30 days (past year) | -63.6% | -46.1% |
Relative strength over 90 days: SOL outperformed MOVR by 25.0% — measured on the MOVR/SOL ratio, so it holds regardless of market direction.