Filecoin (FIL) is 244.2× the size of Swarm (BZZ) by market capitalisation. Over the past 1 year, FIL is ahead by 23.9 percentage points (BZZ -64.4% against FIL -40.5%). Their daily returns move barely together (correlation 0.25 across 373 shared trading days). Both have run at a similar volatility, around 121% annualised.
BZZFIL
0.25over 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 | BZZ | FIL |
|---|---|---|
| Max drawdown (400d) | -84.4% | -81.4% |
| Risk-adjusted return (90d) | 0.17 | 0.19 |
| Best 30 days (past year) | +87.7% | +66.2% |
| Worst 30 days (past year) | -51.6% | -57.1% |
Relative strength over 90 days: BZZ outperformed FIL by 11.1% — measured on the BZZ/FIL ratio, so it holds regardless of market direction.