Chainlink (LINK) is 258.1× the size of Nillion (NIL) by market capitalisation. Over the past 1 year, LINK is ahead by 36.7 percentage points (NIL -64.3% against LINK -27.7%). Their daily returns move barely together (correlation 0.27 across 399 shared trading days). NIL has been the more volatile of the two, at 191% annualised against LINK's 71%.
NILLINK
0.27over 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 | NIL | LINK |
|---|---|---|
| Max drawdown (400d) | -92.3% | -69.2% |
| Risk-adjusted return (90d) | 0.44 | 0.47 |
| Best 30 days (past year) | +180.3% | +61.6% |
| Worst 30 days (past year) | -75.8% | -43.6% |
Relative strength over 90 days: NIL outperformed LINK by 39.5% — measured on the NIL/LINK ratio, so it holds regardless of market direction.