Lido DAO (LDO) is 35.1× the size of Stader (SD) by market capitalisation. Their daily returns move loosely together (correlation 0.37 across 110 shared trading days). LDO has been the more volatile of the two, at 95% annualised against SD's 71%.
SDLDO
0.37over 110 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 | SD | LDO |
|---|---|---|
| Max drawdown (400d) | -34.5% | -81.5% |
| Risk-adjusted return (90d) | -0.10 | 0.14 |
| Best 30 days (past year) | — | +58.2% |
| Worst 30 days (past year) | — | -51.2% |
Relative strength over 90 days: LDO outperformed SD by 16.0% — measured on the SD/LDO ratio, so it holds regardless of market direction.