Blur (BLUR) is 5.2× the size of ThetaDrop (TDROP) by market capitalisation. Over the past 1 year, TDROP is ahead by 23.3 percentage points (TDROP -58.5% against BLUR -81.9%). Their daily returns move barely together (correlation 0.20 across 363 shared trading days). Both have run at a similar volatility, around 108% annualised.
TDROPBLUR
0.20over 363 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 | TDROP | BLUR |
|---|---|---|
| Max drawdown (400d) | -78.3% | -90.8% |
| Risk-adjusted return (90d) | 0.43 | -0.39 |
| Best 30 days (past year) | — | +78.9% |
| Worst 30 days (past year) | — | -65.4% |
Relative strength over 90 days: BLUR outperformed TDROP by 9.1% — measured on the TDROP/BLUR ratio, so it holds regardless of market direction.