NOVA (SN68) is 582.4× the size of Brain Worms (BWORM) by market capitalisation. Their daily returns move closely together (correlation 0.67 across 20 shared trading days). Both have run at a similar volatility, around 97% annualised.
BWORMSN68
0.67over 20 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 | BWORM | SN68 |
|---|---|---|
| Max drawdown (400d) | -64.1% | -18.3% |
| Risk-adjusted return (90d) | -0.03 | 0.16 |
Relative strength over 90 days: SN68 outperformed BWORM by 15.4% — measured on the BWORM/SN68 ratio, so it holds regardless of market direction.