ZED Token (ZED) and Decentraland (MANA) compared side by side. Their daily returns move barely together (correlation 0.25 across 24 shared trading days). MANA has been the more volatile of the two, at 77% annualised against ZED's 52%.
ZEDMANA
0.25over 24 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 | ZED | MANA |
|---|---|---|
| Max drawdown (400d) | -16.5% | -82.0% |
| Risk-adjusted return (90d) | -0.11 | 0.19 |
| Best 30 days (past year) | — | +43.6% |
| Worst 30 days (past year) | — | -42.8% |
Relative strength over 90 days: ZED outperformed MANA by 30.7% — measured on the ZED/MANA ratio, so it holds regardless of market direction.