Olympus (OHM) is 10.6× the size of Zest Protocol (ZEST) by market capitalisation. Their daily returns move barely together (correlation 0.03 across 44 shared trading days). ZEST has been the more volatile of the two, at 157% annualised against OHM's 29%.
ZESTOHM
0.03over 44 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 | ZEST | OHM |
|---|---|---|
| Max drawdown (400d) | -60.2% | -10.8% |
| Risk-adjusted return (90d) | -0.16 | -0.03 |
Relative strength over 90 days: ZEST outperformed OHM by 29.6% — measured on the ZEST/OHM ratio, so it holds regardless of market direction.