Railgun (RAIL) is 1585.9× the size of zkLink (ZKL) by market capitalisation. Their daily returns move barely together (correlation 0.21 across 41 shared trading days). RAIL has been the more volatile of the two, at 166% annualised against ZKL's 113%.
ZKLRAIL
0.21over 41 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 | ZKL | RAIL |
|---|---|---|
| Max drawdown (400d) | -98.8% | -26.3% |
| Risk-adjusted return (90d) | -0.36 | 0.38 |
| Best 30 days (past year) | +35.3% | — |
| Worst 30 days (past year) | -63.1% | — |
Relative strength over 90 days: RAIL outperformed ZKL by 54.4% — measured on the ZKL/RAIL ratio, so it holds regardless of market direction.