XDC Network (XDC) is 25.9× the size of MANTRA (MANTRA) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 58 shared trading days). MANTRA has been the more volatile of the two, at 74% annualised against XDC's 62%.
MANTRAXDC
0.06over 58 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 | XDC |
|---|---|---|
| Max drawdown (400d) | -86.7% | -11.8% |
| Risk-adjusted return (90d) | -0.59 | 0.24 |
Relative strength over 90 days: XDC outperformed MANTRA by 42.6% — measured on the MANTRA/XDC ratio, so it holds regardless of market direction.