Filecoin (FIL) is 3.3× the size of The Graph (GRT) by market capitalisation. Over the past 1 year, FIL is ahead by 26.3 percentage points (GRT -62.6% against FIL -36.3%). Their daily returns move closely together (correlation 0.67 across 399 shared trading days). FIL has been the more volatile of the two, at 125% annualised against GRT's 85%.
GRTFIL
0.67over 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 | FIL |
|---|---|---|
| Max drawdown (400d) | -85.1% | -81.4% |
| Risk-adjusted return (90d) | 0.39 | 0.23 |
| Best 30 days (past year) | +115.0% | +66.2% |
| Worst 30 days (past year) | -41.8% | -57.1% |
Relative strength over 90 days: GRT outperformed FIL by 14.2% — measured on the GRT/FIL ratio, so it holds regardless of market direction.