Aethir (ATH) is 3.7× the size of OpenGradient (OPG) by market capitalisation. Their daily returns move closely together (correlation 0.63 across 57 shared trading days). Both have run at a similar volatility, around 152% annualised.
OPGATH
0.63over 57 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 | OPG | ATH |
|---|---|---|
| Max drawdown (400d) | -71.5% | -22.7% |
| Risk-adjusted return (90d) | 0.32 | 0.30 |
Relative strength over 90 days: ATH outperformed OPG by 17.3% — measured on the OPG/ATH ratio, so it holds regardless of market direction.