XRP (XRP) is 195.1× the size of Raydium (RAY) by market capitalisation. Over the past 1 year, RAY is ahead by 7.0 percentage points (RAY -45.8% against XRP -52.8%). Their daily returns move closely together (correlation 0.67 across 399 shared trading days). RAY has been the more volatile of the two, at 103% annualised against XRP's 66%.
| Period | RAY | XRP | Ahead |
|---|---|---|---|
| 7 days | +10.86% | +3.23% | RAY |
| 30 days | +146.63% | +11.22% | RAY |
| 90 days | +174.51% | +25.39% | RAY |
| 1 year | -45.83% | -52.83% | RAY |
| Metric | RAY | XRP |
|---|---|---|
| Max drawdown (400d) | -85.3% | -68.2% |
| Risk-adjusted return (90d) | 1.38 | 0.38 |
| Best 30 days (past year) | +170.6% | +41.9% |
| Worst 30 days (past year) | -54.1% | -47.3% |
Relative strength over 90 days: RAY outperformed XRP by 118.9% — measured on the RAY/XRP 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.