Panther Protocol vs Beldex

Beldex (BDX) is 568.6× the size of Panther Protocol (ZKP) by market capitalisation. Over the past 30 days, ZKP is ahead by 10.6 percentage points (ZKP +5.1% against BDX -5.5%). Their daily returns move barely in opposite directions (correlation -0.07 across 26 shared trading days). ZKP has been the more volatile of the two, at 140% annualised against BDX's 65%.

Correlation: -0.07
Size ratio: 1 : 568.6
Ahead over 30 days: ZKP

Panther ProtocolZKP

$0.002398

24h: +6.21%
Market cap: $1.04M
Volume 24h: $57,422
Volatility (ann.): 140%

BeldexBDX

$0.075278

24h: +3.21%
Market cap: $592.49M
Volume 24h: $11.90M
Volatility (ann.): 65%

ZKP 0.2%Share of the two combined market caps99.8% BDX

Performance

ZKPBDX

7 days-0.36%-2.71%ZKP
30 days+5.12%-5.49%ZKP

Correlation

-0.07over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0790d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	ZKP	BDX
Max drawdown (400d)	-40.6%	-20.8%
Risk-adjusted return (90d)	0.05	-0.15

Relative strength over 90 days: ZKP outperformed BDX by 16.3% — measured on the ZKP/BDX ratio, so it holds regardless of market direction.

Panther Protocol →Beldex →