Axie Infinity (AXS) is 1306.6× the size of Museum of Crypto Art (MOCA) by market capitalisation. Over the past 1 year, AXS is ahead by 18.8 percentage points (MOCA -44.7% against AXS -26.0%). Their daily returns move barely together (correlation 0.02 across 373 shared trading days). MOCA has been the more volatile of the two, at 315% annualised against AXS's 121%.
MOCAAXS
0.02over 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 | MOCA | AXS |
|---|---|---|
| Max drawdown (400d) | -90.8% | -72.0% |
| Risk-adjusted return (90d) | 0.62 | -0.02 |
| Best 30 days (past year) | +395.9% | +248.7% |
| Worst 30 days (past year) | -61.3% | -55.5% |
Relative strength over 90 days: MOCA outperformed AXS by 444.7% — measured on the MOCA/AXS ratio, so it holds regardless of market direction.