Injective (INJ) is 115.2× the size of Telos (TLOS) by market capitalisation. Over the past 1 year, INJ is ahead by 62.9 percentage points (TLOS -55.4% against INJ +7.5%). Their daily returns move barely together (correlation 0.15 across 373 shared trading days). Both have run at a similar volatility, around 98% annualised.
TLOSINJ
0.15over 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 | TLOS | INJ |
|---|---|---|
| Max drawdown (400d) | -80.8% | -79.5% |
| Risk-adjusted return (90d) | 0.17 | 0.46 |
| Best 30 days (past year) | +124.7% | +92.8% |
| Worst 30 days (past year) | -45.6% | -46.8% |
Relative strength over 90 days: INJ outperformed TLOS by 20.1% — measured on the TLOS/INJ ratio, so it holds regardless of market direction.