Injective (INJ) is 32.3× the size of MANTRA (MANTRA) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 245 shared trading days). INJ has been the more volatile of the two, at 100% annualised against MANTRA's 74%.
MANTRAINJ
0.36over 245 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 | MANTRA | INJ |
|---|---|---|
| Max drawdown (400d) | -86.7% | -79.5% |
| Risk-adjusted return (90d) | -0.59 | 0.46 |
| Best 30 days (past year) | — | +92.8% |
| Worst 30 days (past year) | — | -46.8% |
Relative strength over 90 days: INJ outperformed MANTRA by 60.2% — measured on the MANTRA/INJ ratio, so it holds regardless of market direction.