Ethereum (ETH) is 6866.0× the size of Precious Metals USD (PMUSD) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 31 shared trading days). PMUSD has been the more volatile of the two, at 152% annualised against ETH's 65%.
| Period | PMUSD | ETH | Ahead |
|---|---|---|---|
| 7 days | -8.83% | +4.23% | ETH |
| 30 days | -16.74% | +13.15% | ETH |
| 90 days | — | +54.23% | — |
| 1 year | — | -41.08% | — |
| Metric | PMUSD | ETH |
|---|---|---|
| Max drawdown (400d) | -26.2% | -67.5% |
| Risk-adjusted return (90d) | -0.11 | 0.97 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: ETH outperformed PMUSD by 26.4% — measured on the PMUSD/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.