Provenance Blockchain (HASH) is 1198.4× the size of Mavryk Network (MVRK) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 35 shared trading days). HASH has been the more volatile of the two, at 160% annualised against MVRK's 139%.
MVRKHASH
-0.06over 35 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 | MVRK | HASH |
|---|---|---|
| Max drawdown (400d) | -93.2% | -30.9% |
| Risk-adjusted return (90d) | -0.38 | -0.10 |
Relative strength over 90 days: HASH outperformed MVRK by 50.0% — measured on the MVRK/HASH ratio, so it holds regardless of market direction.