Lido DAO (LDO) is 8.4× the size of SSV Network (SSV) by market capitalisation. Over the past 1 year, SSV is ahead by 13.6 percentage points (SSV -39.3% against LDO -52.9%). Their daily returns move closely together (correlation 0.69 across 399 shared trading days). Both have run at a similar volatility, around 97% annualised.
SSVLDO
0.69over 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 | LDO |
|---|---|---|
| Max drawdown (400d) | -77.0% | -81.5% |
| Risk-adjusted return (90d) | 0.18 | 0.18 |
| Best 30 days (past year) | +48.7% | +58.2% |
| Worst 30 days (past year) | -42.4% | -51.2% |
Relative strength over 90 days: LDO outperformed SSV by 3.1% — measured on the SSV/LDO ratio, so it holds regardless of market direction.