Axie Infinity (AXS) is 259.2× the size of CryptoZoon (ZOON) by market capitalisation. Over the past 1 year, ZOON is ahead by 53.3 percentage points (ZOON +20.7% against AXS -32.5%). Their daily returns move barely in opposite directions (correlation -0.02 across 373 shared trading days). Both have run at a similar volatility, around 120% annualised.
ZOONAXS
-0.02over 373 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 | ZOON | AXS |
|---|---|---|
| Max drawdown (400d) | -56.8% | -72.0% |
| Risk-adjusted return (90d) | -0.33 | -0.04 |
| Best 30 days (past year) | +83.5% | +248.7% |
| Worst 30 days (past year) | -48.5% | -55.5% |
Relative strength over 90 days: AXS outperformed ZOON by 8.6% — measured on the ZOON/AXS ratio, so it holds regardless of market direction.