Zcash (ZEC) is 922.5× the size of Gravity (by Galxe) (G) by market capitalisation. Over the past 1 year, ZEC is ahead by 228.2 percentage points (G -47.2% against ZEC +181.0%). Their daily returns move barely together (correlation 0.20 across 399 shared trading days). Both have run at a similar volatility, around 141% annualised.
GZEC
0.20over 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 | G | ZEC |
|---|---|---|
| Max drawdown (400d) | -75.1% | -71.8% |
| Risk-adjusted return (90d) | -0.07 | 1.06 |
| Best 30 days (past year) | +161.6% | +188.2% |
| Worst 30 days (past year) | -65.6% | -59.2% |
Relative strength over 90 days: ZEC outperformed G by 63.3% — measured on the G/ZEC ratio, so it holds regardless of market direction.