Lido DAO (LDO) is 408.6× the size of Obol (OBOL) by market capitalisation. Over the past 1 year, LDO is ahead by 43.0 percentage points (OBOL -98.1% against LDO -55.1%). Their daily returns move barely together (correlation 0.20 across 373 shared trading days). OBOL has been the more volatile of the two, at 153% annualised against LDO's 95%.
OBOLLDO
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 | OBOL | LDO |
|---|---|---|
| Max drawdown (400d) | -98.3% | -81.5% |
| Risk-adjusted return (90d) | -0.33 | 0.14 |
| Best 30 days (past year) | +82.0% | +58.2% |
| Worst 30 days (past year) | -75.8% | -51.2% |
Relative strength over 90 days: LDO outperformed OBOL by 41.9% — measured on the OBOL/LDO ratio, so it holds regardless of market direction.