Ether.fi (ETHFI) is 17.5× the size of SSV Network (SSV) by market capitalisation. Over the past 1 year, ETHFI is ahead by 10.9 percentage points (SSV -39.3% against ETHFI -28.4%). Their daily returns move closely together (correlation 0.60 across 399 shared trading days). Both have run at a similar volatility, around 98% annualised.
SSVETHFI
0.60over 399 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 | SSV | ETHFI |
|---|---|---|
| Max drawdown (400d) | -77.0% | -84.3% |
| Risk-adjusted return (90d) | 0.18 | 0.63 |
| Best 30 days (past year) | +48.7% | +78.6% |
| Worst 30 days (past year) | -42.4% | -46.6% |
Relative strength over 90 days: ETHFI outperformed SSV by 30.8% — measured on the SSV/ETHFI ratio, so it holds regardless of market direction.