LayerZero (ZRO) is 58.3× the size of SEDA (SEDA) by market capitalisation. Over the past 1 year, ZRO is ahead by 95.9 percentage points (SEDA -65.4% against ZRO +30.6%). Their daily returns move barely together (correlation 0.10 across 373 shared trading days). SEDA has been the more volatile of the two, at 157% annualised against ZRO's 103%.
SEDAZRO
0.10over 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 | SEDA | ZRO |
|---|---|---|
| Max drawdown (400d) | -93.7% | -70.5% |
| Risk-adjusted return (90d) | -0.47 | 1.23 |
| Best 30 days (past year) | +220.7% | +115.2% |
| Worst 30 days (past year) | -79.4% | -47.3% |
Relative strength over 90 days: ZRO outperformed SEDA by 66.0% — measured on the SEDA/ZRO ratio, so it holds regardless of market direction.