Madrid will be the favorite in Real Madrid vs Chelsea match. Because even though the Chelsea team is strong, their performances this season have been erratic. The new coach has not stabilized the team yet. And if the performance is unstable, it will become more difficult to win against a big team like Real Madrid. Madrid coach Ancelotti is very smart. He knows very well how to prepare a Champions League match strategy.
With many combination of factors, from history, recent forms, players they have, coaches they have, Real Madrid are stronger than Chelsea. Both clubs seem to have no interest in their domestic leagues. With Real Madrid, it's impossible to catch Barcelona and with Chelsea, it's impossible to catch top four.
In Champions League, they have due chances to win it and only a few matches will decide they are winner in this season or not. Real Madrid have a very good coach with long successful experience in Champions League. I have to mention that Carlo Ancelotti is a coach that helped Real Madrid to end their bad streak of many seasons in Champions League and made their Decima (10th Champions League) dream becomes true. A rest of story belong to history as they won 4 more in recent years.
I agree with you. Madrid and Chelsea are unlikely to do well in the domestic league. Real Madrid is now 12 points behind Barcelona. It has become almost impossible for Madrid to continue the title fight with Barcelona. And so now they will definitely want to win the Champions League title. On the other hand, Chelsea's position in the Premier League is very weak. Out of 27 matches, the team managed to win only 10 matches. Although Chelsea is back in a bit of form now, I consider Madrid as the favorite against Chelsea. My prediction is that Madrid will win both matches against Chelsea.