Mantle (MNT) is 28.5× the size of MegaETH (MEGA) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 58 shared trading days). Both have run at a similar volatility, around 103% annualised.
MEGAMNT
0.54over 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 | MEGA | MNT |
|---|---|---|
| Max drawdown (400d) | -81.3% | -31.8% |
| Risk-adjusted return (90d) | 0.26 | 0.06 |
Relative strength over 90 days: MEGA outperformed MNT by 35.7% — measured on the MEGA/MNT ratio, so it holds regardless of market direction.