Jito (JTO) is 14.7× the size of Marinade (MNDE) by market capitalisation. Over the past 1 year, JTO is ahead by 25.4 percentage points (MNDE -82.4% against JTO -57.0%). Their daily returns move barely together (correlation 0.32 across 373 shared trading days). JTO has been the more volatile of the two, at 127% annualised against MNDE's 84%.
MNDEJTO
0.32over 373 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 | MNDE | JTO |
|---|---|---|
| Max drawdown (400d) | -88.1% | -85.9% |
| Risk-adjusted return (90d) | 0.32 | -0.30 |
| Best 30 days (past year) | +46.3% | +109.1% |
| Worst 30 days (past year) | -58.4% | -51.6% |
Relative strength over 90 days: MNDE outperformed JTO by 115.5% — measured on the MNDE/JTO ratio, so it holds regardless of market direction.