Ethereum (ETH) is 1328791.0× the size of Pine (PINE) by market capitalisation. Over the past 1 year, ETH is ahead by 35.1 percentage points (PINE -61.3% against ETH -26.2%). Their daily returns move barely together (correlation 0.27 across 370 shared trading days). Both have run at a similar volatility, around 58% annualised.
PINEETH
0.27over 370 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 | PINE | ETH |
|---|---|---|
| Max drawdown (400d) | -64.9% | -66.5% |
| Risk-adjusted return (90d) | -0.57 | 0.50 |
| Best 30 days (past year) | +18.9% | +34.1% |
| Worst 30 days (past year) | -38.4% | -44.6% |
Relative strength over 90 days: ETH outperformed PINE by 55.1% — measured on the PINE/ETH ratio, so it holds regardless of market direction.