Synthswap vs Rain

Rain (RAIN) is 361577.1× the size of Synthswap (SYNTH) by market capitalisation. Over the past 30 days, SYNTH is ahead by 47.8 percentage points (SYNTH -13.2% against RAIN -61.0%). Their daily returns move barely in opposite directions (correlation -0.14 across 20 shared trading days). RAIN has been the more volatile of the two, at 135% annualised against SYNTH's 65%.

Correlation: -0.14
Size ratio: 1 : 361577.1
Ahead over 30 days: SYNTH

SynthswapSYNTH

$0.054798

24h: —
Market cap: $11,976
Volume 24h: —
Volatility (ann.): 65%

RainRAIN

$0.006061

24h: -2.26%
Market cap: $4.33B
Volume 24h: $13.58M
Volatility (ann.): 135%

SYNTH 0.0%Share of the two combined market caps100.0% RAIN

Performance

SYNTHRAIN

7 days+4.16%-11.68%SYNTH
30 days-13.16%-60.96%SYNTH

Correlation

-0.14over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SYNTH	RAIN
Max drawdown (400d)	-21.0%	-69.3%
Risk-adjusted return (90d)	-0.20	-0.40

Relative strength over 90 days: SYNTH outperformed RAIN by 56.6% — measured on the SYNTH/RAIN ratio, so it holds regardless of market direction.

Synthswap →Rain →