NEAR Protocol (NEAR) is 505628.5× the size of Boom (BOOM) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 21 shared trading days). BOOM has been the more volatile of the two, at 675% annualised against NEAR's 108%.
BOOMNEAR
-0.04over 21 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 | BOOM | NEAR |
|---|---|---|
| Max drawdown (400d) | -96.0% | -68.7% |
| Risk-adjusted return (90d) | -0.14 | 1.11 |
| Best 30 days (past year) | — | +195.3% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: NEAR outperformed BOOM by 90.2% — measured on the BOOM/NEAR ratio, so it holds regardless of market direction.