Chainlink (LINK) is 996.2× the size of SPACEM WORLD (SPCM) by market capitalisation. Over the past 1 year, SPCM is ahead by 222.4 percentage points (SPCM +194.7% against LINK -27.7%). Their daily returns move barely in opposite directions (correlation -0.04 across 373 shared trading days). SPCM has been the more volatile of the two, at 92% annualised against LINK's 71%.
SPCMLINK
-0.04over 373 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 | SPCM | LINK |
|---|---|---|
| Max drawdown (400d) | -50.4% | -69.2% |
| Risk-adjusted return (90d) | 1.11 | 0.47 |
| Best 30 days (past year) | +170.4% | +61.6% |
| Worst 30 days (past year) | -30.4% | -43.6% |
Relative strength over 90 days: SPCM outperformed LINK by 64.5% — measured on the SPCM/LINK ratio, so it holds regardless of market direction.