Bittensor (TAO) is 46.9× the size of Janction (JCT) by market capitalisation. Over the past 1 year, JCT is ahead by 13.9 percentage points (JCT -37.7% against TAO -51.6%). Their daily returns move barely in opposite directions (correlation -0.07 across 333 shared trading days). JCT has been the more volatile of the two, at 353% annualised against TAO's 97%.
JCTTAO
-0.07over 333 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 | JCT | TAO |
|---|---|---|
| Max drawdown (400d) | -83.6% | -70.7% |
| Risk-adjusted return (90d) | 0.04 | 0.16 |
| Best 30 days (past year) | — | +104.1% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: JCT outperformed TAO by 15.4% — measured on the JCT/TAO ratio, so it holds regardless of market direction.