P2P solutions foundation (P2PS) and Ethereum (ETH) compared side by side. Their daily returns move very closely together (correlation 0.95 across 31 shared trading days). ETH has been the more volatile of the two, at 62% annualised against P2PS's 46%.
P2PSETH
0.95over 31 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 | P2PS | ETH |
|---|---|---|
| Max drawdown (400d) | -5.3% | -66.5% |
| Risk-adjusted return (90d) | 0.25 | 0.36 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed P2PS by 0.2% — measured on the P2PS/ETH ratio, so it holds regardless of market direction.