Zcash vs Hedera
Zcash (ZEC) is 6.2× the size of Hedera (HBAR) by market capitalisation. Over the past 1 year, ZEC is ahead by 3308.7 percentage points (ZEC +3253.3% against HBAR -55.4%). Their daily returns move barely together (correlation 0.32 across 399 shared trading days). ZEC has been the more volatile of the two, at 161% annualised against HBAR's 68%.
Performance
| Period | ZEC | HBAR | Ahead |
|---|---|---|---|
| 7 days | +46.79% | +33.36% | ZEC |
| 30 days | +90.88% | +24.17% | ZEC |
| 90 days | +291.04% | +31.00% | ZEC |
| 1 year | +3253.32% | -55.40% | ZEC |
Risk & extremes
| Metric | ZEC | HBAR |
|---|---|---|
| Max drawdown (400d) | -71.8% | -74.8% |
| Risk-adjusted return (90d) | 2.34 | 0.59 |
| Best 30 days (past year) | +514.2% | +24.2% |
| Worst 30 days (past year) | -59.2% | -39.4% |
Relative strength over 90 days: ZEC outperformed HBAR by 198.5% — measured on the ZEC/HBAR ratio, so it holds regardless of market direction.
Correlation
0.32over 399 shared trading days
7d: insufficient data30d: 0.3090d: 0.391y: 0.32
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.