The Graph (GRT) is 1.0× the size of Arweave (AR) by market capitalisation. Over the past 1 year, AR is ahead by 41.9 percentage points (GRT -62.6% against AR -20.7%). Their daily returns move closely together (correlation 0.65 across 399 shared trading days). AR has been the more volatile of the two, at 119% annualised against GRT's 85%.
GRTAR
0.65over 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 | GRT | AR |
|---|---|---|
| Max drawdown (400d) | -85.1% | -80.7% |
| Risk-adjusted return (90d) | 0.39 | 0.67 |
| Best 30 days (past year) | +115.0% | +124.8% |
| Worst 30 days (past year) | -41.8% | -53.3% |
Relative strength over 90 days: AR outperformed GRT by 23.5% — measured on the GRT/AR ratio, so it holds regardless of market direction.