NEAR Protocol (NEAR) is 260.0× the size of ao Computer (AO) by market capitalisation. Over the past 1 year, NEAR is ahead by 134.3 percentage points (AO -33.9% against NEAR +100.4%). Their daily returns move loosely together (correlation 0.36 across 365 shared trading days). Both have run at a similar volatility, around 116% annualised.
AONEAR
0.36over 365 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 | AO | NEAR |
|---|---|---|
| Max drawdown (400d) | -83.2% | -68.7% |
| Risk-adjusted return (90d) | 0.88 | 0.98 |
| Best 30 days (past year) | — | +195.3% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: NEAR outperformed AO by 15.3% — measured on the AO/NEAR ratio, so it holds regardless of market direction.