Wave Swap vs Rain

Rain (RAIN) is 178944.2× the size of Wave Swap (WAVE) by market capitalisation. Over the past 30 days, RAIN is ahead by 3.1 percentage points (WAVE -64.0% against RAIN -61.0%). Their daily returns move barely in opposite directions (correlation -0.29 across 24 shared trading days). WAVE has been the more volatile of the two, at 174% annualised against RAIN's 135%.

Correlation: -0.29
Size ratio: 1 : 178944.2
Ahead over 30 days: RAIN

Wave SwapWAVE

$2.272e-5

24h: -23.84%
Market cap: $22,699
Volume 24h: $2,642
Volatility (ann.): 174%

RainRAIN

$0.005686

24h: -2.63%
Market cap: $4.06B
Volume 24h: $12.07M
Volatility (ann.): 135%

WAVE 0.0%Share of the two combined market caps100.0% RAIN

Performance

WAVERAIN

7 days-32.97%-11.68%RAIN
30 days-64.03%-60.96%RAIN

Correlation

-0.29over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	WAVE	RAIN
Max drawdown (400d)	-64.2%	-69.3%
Risk-adjusted return (90d)	-0.36	-0.40

Relative strength over 90 days: RAIN outperformed WAVE by 28.7% — measured on the WAVE/RAIN ratio, so it holds regardless of market direction.

Wave Swap →Rain →