Litecoin (LTC) is 6593.1× the size of Shardeum (SHM) by market capitalisation. Over the past 1 year, LTC is ahead by 62.0 percentage points (SHM -99.9% against LTC -37.9%). Their daily returns move barely in opposite directions (correlation -0.05 across 364 shared trading days). SHM has been the more volatile of the two, at 135% annualised against LTC's 62%.
SHMLTC
-0.05over 364 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 | SHM | LTC |
|---|---|---|
| Max drawdown (400d) | -100.0% | -67.5% |
| Risk-adjusted return (90d) | 0.07 | 0.32 |
| Best 30 days (past year) | — | +45.4% |
| Worst 30 days (past year) | — | -39.5% |
Relative strength over 90 days: LTC outperformed SHM by 32.5% — measured on the SHM/LTC ratio, so it holds regardless of market direction.