MANA3 (MANA3) and POL (ex-MATIC) (POL) compared side by side. Over the past 1 year, MANA3 is ahead by 13.5 percentage points (MANA3 -31.9% against POL -45.4%). Their daily returns move barely in opposite directions (correlation -0.05 across 364 shared trading days). MANA3 has been the more volatile of the two, at 1632% annualised against POL's 74%.
MANA3POL
-0.05over 364 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 | MANA3 | POL |
|---|---|---|
| Max drawdown (400d) | -93.3% | -72.6% |
| Risk-adjusted return (90d) | 0.15 | 0.28 |
| Best 30 days (past year) | — | +57.7% |
| Worst 30 days (past year) | — | -46.8% |
Relative strength over 90 days: MANA3 outperformed POL by 252.4% — measured on the MANA3/POL ratio, so it holds regardless of market direction.