Jupiter (JUP) is 10.3× the size of 0x Protocol (ZRX) by market capitalisation. Over the past 1 year, JUP is ahead by 15.2 percentage points (ZRX -46.5% against JUP -31.3%). Their daily returns move loosely together (correlation 0.55 across 399 shared trading days). JUP has been the more volatile of the two, at 97% annualised against ZRX's 77%.
ZRXJUP
0.55over 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 | ZRX | JUP |
|---|---|---|
| Max drawdown (400d) | -71.5% | -70.9% |
| Risk-adjusted return (90d) | 0.33 | 0.29 |
| Best 30 days (past year) | +46.6% | +68.3% |
| Worst 30 days (past year) | -36.7% | -41.5% |
Relative strength over 90 days: JUP outperformed ZRX by 7.3% — measured on the ZRX/JUP ratio, so it holds regardless of market direction.