Decentraland (MANA) is 436.5× the size of Portals (PORTALS) by market capitalisation. Over the past 1 year, MANA is ahead by 28.3 percentage points (PORTALS -93.4% against MANA -65.1%). Their daily returns move barely together (correlation 0.06 across 364 shared trading days). PORTALS has been the more volatile of the two, at 213% annualised against MANA's 78%.
PORTALSMANA
0.06over 364 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 | PORTALS | MANA |
|---|---|---|
| Max drawdown (400d) | -96.7% | -82.0% |
| Risk-adjusted return (90d) | -0.09 | 0.14 |
| Best 30 days (past year) | — | +43.6% |
| Worst 30 days (past year) | — | -42.8% |
Relative strength over 90 days: MANA outperformed PORTALS by 50.3% — measured on the PORTALS/MANA ratio, so it holds regardless of market direction.