Ethereum (ETH) is 686.4× the size of Pyth Network (PYTH) by market capitalisation. Over the past 1 year, ETH is ahead by 22.1 percentage points (PYTH -63.2% against ETH -41.1%). Their daily returns move loosely together (correlation 0.47 across 399 shared trading days). PYTH has been the more volatile of the two, at 137% annualised against ETH's 65%.
| Period | PYTH | ETH | Ahead |
|---|---|---|---|
| 7 days | +11.25% | +4.23% | PYTH |
| 30 days | +38.00% | +13.15% | PYTH |
| 90 days | +71.20% | +54.23% | PYTH |
| 1 year | -63.23% | -41.08% | ETH |
| Metric | PYTH | ETH |
|---|---|---|
| Max drawdown (400d) | -86.5% | -67.5% |
| Risk-adjusted return (90d) | 0.93 | 0.97 |
| Best 30 days (past year) | +52.9% | +34.1% |
| Worst 30 days (past year) | -46.7% | -44.6% |
Relative strength over 90 days: PYTH outperformed ETH by 11.0% — measured on the PYTH/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.