Centrifuge [OLD] (CFG) and Zebec Network (ZBCN) compared side by side. Their daily returns move loosely together (correlation 0.59 across 35 shared trading days). CFG has been the more volatile of the two, at 144% annualised against ZBCN's 106%.
CFGZBCN
0.59over 35 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 | CFG | ZBCN |
|---|---|---|
| Max drawdown (400d) | -78.7% | -20.8% |
| Risk-adjusted return (90d) | -0.22 | 0.23 |
Relative strength over 90 days: ZBCN outperformed CFG by 24.3% — measured on the CFG/ZBCN ratio, so it holds regardless of market direction.