Polkadot (DOT) is 21.8× the size of Wormhole (W) by market capitalisation. Over the past 1 year, DOT is ahead by 16.9 percentage points (W -80.6% against DOT -63.7%). Their daily returns move closely together (correlation 0.66 across 399 shared trading days). Both have run at a similar volatility, around 94% annualised.
WDOT
0.66over 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 | W | DOT |
|---|---|---|
| Max drawdown (400d) | -94.0% | -82.9% |
| Risk-adjusted return (90d) | 0.28 | 0.13 |
| Best 30 days (past year) | +129.8% | +55.9% |
| Worst 30 days (past year) | -52.1% | -44.2% |
Relative strength over 90 days: W outperformed DOT by 18.3% — measured on the W/DOT ratio, so it holds regardless of market direction.