Ethereum Name Service (ENS) is 6806.1× the size of Spores Network (SPO) by market capitalisation. Over the past 1 year, ENS is ahead by 28.1 percentage points (SPO -87.4% against ENS -59.3%). Their daily returns move loosely together (correlation 0.37 across 371 shared trading days). SPO has been the more volatile of the two, at 104% annualised against ENS's 82%.
SPOENS
0.37over 371 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 | SPO | ENS |
|---|---|---|
| Max drawdown (400d) | -88.7% | -82.4% |
| Risk-adjusted return (90d) | -0.70 | 0.23 |
| Best 30 days (past year) | +142.6% | +48.0% |
| Worst 30 days (past year) | -72.5% | -51.6% |
Relative strength over 90 days: ENS outperformed SPO by 72.6% — measured on the SPO/ENS ratio, so it holds regardless of market direction.