Filecoin (FIL) is 773.0× the size of Zulu Network (ZULU) by market capitalisation. Over the past 1 year, FIL is ahead by 43.8 percentage points (ZULU -84.3% against FIL -40.5%). Their daily returns move barely in opposite directions (correlation -0.01 across 364 shared trading days). ZULU has been the more volatile of the two, at 176% annualised against FIL's 125%.
ZULUFIL
-0.01over 364 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 | ZULU | FIL |
|---|---|---|
| Max drawdown (400d) | -90.8% | -81.4% |
| Risk-adjusted return (90d) | -0.15 | 0.19 |
| Best 30 days (past year) | — | +66.2% |
| Worst 30 days (past year) | — | -57.1% |
Relative strength over 90 days: FIL outperformed ZULU by 64.7% — measured on the ZULU/FIL ratio, so it holds regardless of market direction.