Lido DAO (LDO) is 95.5× the size of StakeWise (SWISE) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.42 across 37 shared trading days). SWISE has been the more volatile of the two, at 190% annualised against LDO's 95%.
SWISELDO
-0.42over 37 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 | SWISE | LDO |
|---|---|---|
| Max drawdown (400d) | -38.3% | -81.5% |
| Risk-adjusted return (90d) | 0.17 | 0.18 |
| Best 30 days (past year) | — | +58.2% |
| Worst 30 days (past year) | — | -51.2% |
Relative strength over 90 days: SWISE outperformed LDO by 41.9% — measured on the SWISE/LDO ratio, so it holds regardless of market direction.