TRON (TRX) is 22.3× the size of Internet Computer (ICP) by market capitalisation. Over the past 1 year, TRX is ahead by 70.0 percentage points (TRX +10.2% against ICP -59.8%). Their daily returns move barely together (correlation 0.21 across 399 shared trading days). ICP has been the more volatile of the two, at 109% annualised against TRX's 26%.
TRXICP
0.21over 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 | TRX | ICP |
|---|---|---|
| Max drawdown (400d) | -22.1% | -77.4% |
| Risk-adjusted return (90d) | -0.09 | 0.17 |
| Best 30 days (past year) | +16.1% | +49.6% |
| Worst 30 days (past year) | -13.8% | -62.1% |
Relative strength over 90 days: ICP outperformed TRX by 14.9% — measured on the TRX/ICP ratio, so it holds regardless of market direction.