Canton (CC) is 14.0× the size of Tezos (XTZ) by market capitalisation. Their daily returns move closely together (correlation 0.71 across 60 shared trading days). CC has been the more volatile of the two, at 124% annualised against XTZ's 75%.
CCXTZ
0.71over 60 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 | CC | XTZ |
|---|---|---|
| Max drawdown (400d) | -30.6% | -72.9% |
| Risk-adjusted return (90d) | 0.01 | 0.25 |
| Best 30 days (past year) | — | +65.7% |
| Worst 30 days (past year) | — | -42.6% |
Relative strength over 90 days: XTZ outperformed CC by 20.6% — measured on the CC/XTZ ratio, so it holds regardless of market direction.