Decentraland (MANA) is 192.9× the size of Tower (TOWER) by market capitalisation. Over the past 1 year, MANA is ahead by 24.2 percentage points (TOWER -89.3% against MANA -65.1%). Their daily returns move loosely together (correlation 0.38 across 371 shared trading days). MANA has been the more volatile of the two, at 78% annualised against TOWER's 52%.
TOWERMANA
0.38over 371 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 | TOWER | MANA |
|---|---|---|
| Max drawdown (400d) | -89.5% | -82.0% |
| Risk-adjusted return (90d) | -0.36 | 0.14 |
| Best 30 days (past year) | +22.6% | +43.6% |
| Worst 30 days (past year) | -46.0% | -42.8% |
Relative strength over 90 days: MANA outperformed TOWER by 11.0% — measured on the TOWER/MANA ratio, so it holds regardless of market direction.