Enjin Coin (ENJ) is 312.8× the size of ritestream (RITE) by market capitalisation. Over the past 1 year, ENJ is ahead by 45.6 percentage points (RITE -87.2% against ENJ -41.6%). Their daily returns move barely together (correlation 0.05 across 370 shared trading days). RITE has been the more volatile of the two, at 245% annualised against ENJ's 115%.
RITEENJ
0.05over 370 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 | RITE | ENJ |
|---|---|---|
| Max drawdown (400d) | -96.3% | -74.4% |
| Risk-adjusted return (90d) | -0.29 | -0.12 |
| Best 30 days (past year) | +219.5% | +365.5% |
| Worst 30 days (past year) | -74.6% | -51.0% |
Relative strength over 90 days: ENJ outperformed RITE by 45.0% — measured on the RITE/ENJ ratio, so it holds regardless of market direction.