The Graph (GRT) is 98.9× the size of Onocoy Token (ONO) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.52 across 39 shared trading days). ONO has been the more volatile of the two, at 136% annualised against GRT's 85%.
ONOGRT
-0.52over 39 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 | ONO | GRT |
|---|---|---|
| Max drawdown (400d) | -18.9% | -85.1% |
| Risk-adjusted return (90d) | 0.20 | 0.30 |
| Best 30 days (past year) | — | +115.0% |
| Worst 30 days (past year) | — | -41.8% |
Relative strength over 90 days: ONO outperformed GRT by 6.3% — measured on the ONO/GRT ratio, so it holds regardless of market direction.