AxonDAO Governance Token vs NOVA

NOVA (SN68) is 17.8× the size of AxonDAO Governance Token (AXGT) by market capitalisation. Over the past 30 days, SN68 is ahead by 102.3 percentage points (AXGT -80.5% against SN68 +21.9%). Their daily returns move barely in opposite directions (correlation -0.09 across 30 shared trading days). AXGT has been the more volatile of the two, at 279% annualised against SN68's 97%.

Correlation: -0.09
Size ratio: 1 : 17.8
Ahead over 30 days: SN68

AxonDAO Governance TokenAXGT

$0.005056

24h: -2.87%
Market cap: $1.20M
Volume 24h: $6,400
Volatility (ann.): 279%

NOVASN68

$3.9200

24h: +0.98%
Market cap: $21.45M
Volume 24h: $397,366
Volatility (ann.): 97%

AXGT 5.3%Share of the two combined market caps94.7% SN68

Performance

AXGTSN68

7 days-10.11%-0.47%SN68
30 days-80.46%+21.88%SN68

Correlation

-0.09over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0990d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	AXGT	SN68
Max drawdown (400d)	-83.7%	-18.3%
Risk-adjusted return (90d)	-0.21	0.16

Relative strength over 90 days: SN68 outperformed AXGT by 54.3% — measured on the AXGT/SN68 ratio, so it holds regardless of market direction.

AxonDAO Governance Token →NOVA →