NEAR Protocol (NEAR) is 2791.1× the size of Aleph Zero (AZERO) by market capitalisation. Over the past 1 year, NEAR is ahead by 155.4 percentage points (AZERO -55.0% against NEAR +100.4%). Their daily returns move barely together (correlation 0.16 across 363 shared trading days). AZERO has been the more volatile of the two, at 229% annualised against NEAR's 108%.
AZERONEAR
0.16over 363 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 | AZERO | NEAR |
|---|---|---|
| Max drawdown (400d) | -82.4% | -68.7% |
| Risk-adjusted return (90d) | 0.61 | 0.98 |
| Best 30 days (past year) | — | +195.3% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: NEAR outperformed AZERO by 24.5% — measured on the AZERO/NEAR ratio, so it holds regardless of market direction.