Ribbon Finance vs Lighter

Lighter (LIT) is 649.1× the size of Ribbon Finance (RBN) by market capitalisation. Over the past 30 days, LIT is ahead by 18.8 percentage points (RBN -26.5% against LIT -7.6%). Their daily returns move barely in opposite directions (correlation -0.01 across 32 shared trading days). LIT has been the more volatile of the two, at 120% annualised against RBN's 59%.

Correlation: -0.01
Size ratio: 1 : 649.1
Ahead over 30 days: LIT

Ribbon FinanceRBN

$0.019507

24h: —
Market cap: $1.31M
Volume 24h: —
Volatility (ann.): 59%

LighterLIT

$0.743000

24h: +5.43%
Market cap: $852.11M
Volume 24h: $151.12M
Volatility (ann.): 120%

RBN 0.2%Share of the two combined market caps99.8% LIT

Performance

RBNLIT

7 days-8.66%+11.51%LIT
30 days-26.46%-7.63%LIT

Correlation

-0.01over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0790d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	RBN	LIT
Max drawdown (400d)	-27.3%	-42.9%
Risk-adjusted return (90d)	-0.38	-0.25

Relative strength over 90 days: LIT outperformed RBN by 12.6% — measured on the RBN/LIT ratio, so it holds regardless of market direction.

Ribbon Finance →Lighter →