Ethereum Name Service (ENS) is 3205.3× the size of OVO (OVO) by market capitalisation. Over the past 1 year, ENS is ahead by 5.9 percentage points (OVO -65.3% against ENS -59.3%). Their daily returns move barely together (correlation 0.03 across 363 shared trading days). OVO has been the more volatile of the two, at 155% annualised against ENS's 82%.
OVOENS
0.03over 363 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 | OVO | ENS |
|---|---|---|
| Max drawdown (400d) | -86.7% | -82.4% |
| Risk-adjusted return (90d) | -0.30 | 0.23 |
| Best 30 days (past year) | — | +48.0% |
| Worst 30 days (past year) | — | -51.6% |
Relative strength over 90 days: ENS outperformed OVO by 21.2% — measured on the OVO/ENS ratio, so it holds regardless of market direction.