Degen (DEGEN) is 37.2× the size of Zeal (ZEAL) by market capitalisation. Over the past 30 days, ZEAL is ahead by 30.3 percentage points (ZEAL +12.5% against DEGEN -17.8%). Their daily returns move barely together (correlation 0.25 across 28 shared trading days). ZEAL has been the more volatile of the two, at 666% annualised against DEGEN's 78%.
ZEALDEGEN
0.25over 28 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 | ZEAL | DEGEN |
|---|---|---|
| Max drawdown (400d) | -86.8% | -26.2% |
| Risk-adjusted return (90d) | -0.03 | -0.22 |
Relative strength over 90 days: ZEAL outperformed DEGEN by 4.2% — measured on the ZEAL/DEGEN ratio, so it holds regardless of market direction.