The Lighter Liger vs Degen

Degen (DEGEN) is 185.0× the size of The Lighter Liger (LIGER) by market capitalisation. Over the past 30 days, DEGEN is ahead by 63.2 percentage points (LIGER -76.7% against DEGEN -13.5%). Their daily returns move barely together (correlation 0.32 across 28 shared trading days). LIGER has been the more volatile of the two, at 555% annualised against DEGEN's 78%.

Correlation: 0.32
Size ratio: 1 : 185.0
Ahead over 30 days: DEGEN

The Lighter LigerLIGER

$0.000199

24h: +25.41%
Market cap: $167,004
Volume 24h: $3,412
Volatility (ann.): 555%

DegenDEGEN

$0.000861

24h: +0.00%
Market cap: $30.90M
Volume 24h: $3.32M
Volatility (ann.): 78%

LIGER 0.5%Share of the two combined market caps99.5% DEGEN

Performance

LIGERDEGEN

7 days+1.11%-5.52%LIGER
30 days-76.74%-13.51%DEGEN

Correlation

0.32over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 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	LIGER	DEGEN
Max drawdown (400d)	-86.1%	-26.2%
Risk-adjusted return (90d)	-0.14	-0.20

Relative strength over 90 days: DEGEN outperformed LIGER by 73.3% — measured on the LIGER/DEGEN ratio, so it holds regardless of market direction.

The Lighter Liger →Degen →