Immutable (IMX) is 186.5× the size of CryptoZoon (ZOON) by market capitalisation. Over the past 1 year, ZOON is ahead by 94.1 percentage points (ZOON +20.7% against IMX -73.3%). Their daily returns move barely together (correlation 0.01 across 373 shared trading days). ZOON has been the more volatile of the two, at 120% annualised against IMX's 90%.
ZOONIMX
0.01over 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 | IMX |
|---|---|---|
| Max drawdown (400d) | -56.8% | -87.2% |
| Risk-adjusted return (90d) | -0.33 | 0.08 |
| Best 30 days (past year) | +83.5% | +67.7% |
| Worst 30 days (past year) | -48.5% | -50.4% |
Relative strength over 90 days: IMX outperformed ZOON by 10.4% — measured on the ZOON/IMX ratio, so it holds regardless of market direction.