Non-Playable Coin (NPC) is 3074.6× the size of BITCOIN CASH ON BASE (BCHB) by market capitalisation. Their daily returns move loosely together (correlation 0.48 across 42 shared trading days). NPC has been the more volatile of the two, at 165% annualised against BCHB's 117%.
BCHBNPC
0.48over 42 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 | BCHB | NPC |
|---|---|---|
| Max drawdown (400d) | -62.9% | -34.4% |
| Risk-adjusted return (90d) | -0.58 | 1.20 |
Relative strength over 90 days: NPC outperformed BCHB by 81.3% — measured on the BCHB/NPC ratio, so it holds regardless of market direction.