Mantle (MNT) is 36.3× the size of Aztec (AZTEC) by market capitalisation. Over the past 30 days, AZTEC is ahead by 17.1 percentage points (AZTEC -0.2% against MNT -17.3%). Their daily returns move loosely together (correlation 0.57 across 48 shared trading days). Both have run at a similar volatility, around 98% annualised.
AZTECMNT
0.57over 48 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 | AZTEC | MNT |
|---|---|---|
| Max drawdown (400d) | -25.3% | -31.8% |
| Risk-adjusted return (90d) | 0.03 | 0.06 |
Relative strength over 90 days: AZTEC outperformed MNT by 10.0% — measured on the AZTEC/MNT ratio, so it holds regardless of market direction.