Ethereum (ETH) is 9983.5× the size of OpenLedger (OPEN) by market capitalisation. Over the past 1 year, ETH is ahead by 42.4 percentage points (OPEN -83.5% against ETH -41.1%). Their daily returns move loosely together (correlation 0.40 across 377 shared trading days). OPEN has been the more volatile of the two, at 121% annualised against ETH's 65%.
| Period | OPEN | ETH | Ahead |
|---|---|---|---|
| 7 days | +9.84% | +4.23% | OPEN |
| 30 days | -7.71% | +13.15% | ETH |
| 90 days | -32.30% | +54.23% | ETH |
| 1 year | -83.52% | -41.08% | ETH |
| Metric | OPEN | ETH |
|---|---|---|
| Max drawdown (400d) | -91.8% | -67.5% |
| Risk-adjusted return (90d) | -0.37 | 0.97 |
| Best 30 days (past year) | +77.3% | +34.1% |
| Worst 30 days (past year) | -61.9% | -44.6% |
Relative strength over 90 days: ETH outperformed OPEN by 56.1% — measured on the OPEN/ETH ratio, so it holds regardless of market direction.
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.