Optimism (OP) is 4.3× the size of Nervos Network (CKB) by market capitalisation. Over the past 1 year, CKB is ahead by 8.1 percentage points (CKB -60.9% against OP -69.0%). Their daily returns move closely together (correlation 0.68 across 399 shared trading days). OP has been the more volatile of the two, at 100% annualised against CKB's 87%.
CKBOP
0.68over 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 | CKB | OP |
|---|---|---|
| Max drawdown (400d) | -81.9% | -89.2% |
| Risk-adjusted return (90d) | 0.38 | 0.21 |
| Best 30 days (past year) | +82.6% | +67.2% |
| Worst 30 days (past year) | -43.7% | -60.5% |
Relative strength over 90 days: CKB outperformed OP by 14.3% — measured on the CKB/OP ratio, so it holds regardless of market direction.