Mantle (MNT) is 157.3× the size of Fluent (BLEND) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 45 shared trading days). Both have run at a similar volatility, around 97% annualised.
BLENDMNT
0.61over 45 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 | BLEND | MNT |
|---|---|---|
| Max drawdown (400d) | -35.0% | -31.8% |
| Risk-adjusted return (90d) | -0.26 | 0.06 |
Relative strength over 90 days: MNT outperformed BLEND by 25.9% — measured on the BLEND/MNT ratio, so it holds regardless of market direction.