Morpho (MORPHO) is 357.7× the size of VitaDAO (VITA) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 41 shared trading days). VITA has been the more volatile of the two, at 135% annualised against MORPHO's 94%.
VITAMORPHO
0.54over 41 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 | VITA | MORPHO |
|---|---|---|
| Max drawdown (400d) | -42.1% | -51.0% |
| Risk-adjusted return (90d) | -0.19 | 0.13 |
| Best 30 days (past year) | — | +77.8% |
| Worst 30 days (past year) | — | -44.8% |
Relative strength over 90 days: MORPHO outperformed VITA by 16.8% — measured on the VITA/MORPHO ratio, so it holds regardless of market direction.