Ethereum (ETH) is 21684.5× the size of Spell (SPELL) by market capitalisation. Over the past 1 year, ETH is ahead by 40.8 percentage points (SPELL -81.9% against ETH -41.1%). Their daily returns move closely together (correlation 0.61 across 399 shared trading days). Both have run at a similar volatility, around 67% annualised.
| Period | SPELL | ETH | Ahead |
|---|---|---|---|
| 7 days | +5.76% | +4.23% | SPELL |
| 30 days | +7.56% | +13.15% | ETH |
| 90 days | -25.76% | +54.23% | ETH |
| 1 year | -81.93% | -41.08% | ETH |
| Metric | SPELL | ETH |
|---|---|---|
| Max drawdown (400d) | -87.0% | -67.5% |
| Risk-adjusted return (90d) | -0.38 | 0.97 |
| Best 30 days (past year) | +17.8% | +34.1% |
| Worst 30 days (past year) | -41.9% | -44.6% |
Relative strength over 90 days: ETH outperformed SPELL by 51.9% — measured on the SPELL/ETH ratio, so it holds regardless of market direction.
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.