Dai (DAI) is 1.7× the size of Ripple USD (RLUSD) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.23 across 42 shared trading days). DAI has been the more volatile of the two, at 0% annualised against RLUSD's 0%.
RLUSDDAI
-0.23over 42 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 | RLUSD | DAI |
|---|---|---|
| Max drawdown (400d) | -0.2% | -0.1% |
| Risk-adjusted return (90d) | 0.20 | 0.03 |
Relative strength over 90 days: RLUSD outperformed DAI by 0.1% — measured on the RLUSD/DAI ratio, so it holds regardless of market direction.