Zcash (ZEC) is 939.9× the size of Orochi Network (ON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 22 shared trading days). Both have run at a similar volatility, around 158% annualised.
ONZEC
-0.00over 22 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 | ON | ZEC |
|---|---|---|
| Max drawdown (400d) | -30.5% | -71.8% |
| Risk-adjusted return (90d) | 0.04 | 1.06 |
| Best 30 days (past year) | — | +188.2% |
| Worst 30 days (past year) | — | -59.2% |
Relative strength over 90 days: ON outperformed ZEC by 28.6% — measured on the ON/ZEC ratio, so it holds regardless of market direction.