Decentraland (MANA) is 1.1× the size of The Sandbox (SAND) by market capitalisation. Over the past 1 year, MANA is ahead by 11.4 percentage points (MANA -62.5% against SAND -73.9%). Their daily returns move closely together (correlation 0.82 across 399 shared trading days). SAND has been the more volatile of the two, at 103% annualised against MANA's 77%.
MANASAND
0.82over 399 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 | MANA | SAND |
|---|---|---|
| Max drawdown (400d) | -82.0% | -88.4% |
| Risk-adjusted return (90d) | 0.19 | 0.07 |
| Best 30 days (past year) | +43.6% | +94.1% |
| Worst 30 days (past year) | -42.8% | -48.8% |
Relative strength over 90 days: MANA outperformed SAND by 2.5% — measured on the MANA/SAND ratio, so it holds regardless of market direction.