Mento Nigerian Naira vs USDS

USDS (USDS) is 168649.9× the size of Mento Nigerian Naira (NGNM) by market capitalisation. Over the past 90 days, NGNM is ahead by 8.5 percentage points (NGNM +8.5% against USDS +0.0%). Their daily returns move barely in opposite directions (correlation -0.04 across 35 shared trading days). NGNM has been the more volatile of the two, at 11% annualised against USDS's 1%.

Correlation: -0.04
Size ratio: 1 : 168649.9
Ahead over 90 days: NGNM

Mento Nigerian NairaNGNM

$0.000731

24h: —
Market cap: $56,599
Volume 24h: —
Volatility (ann.): 11%

USDSUSDS

$1.0013

24h: -0.01%
Market cap: $9.55B
Volume 24h: $334.49M
Volatility (ann.): 1%

NGNM 0.0%Share of the two combined market caps100.0% USDS

Performance

NGNMUSDS

7 days+0.12%+0.00%NGNM
30 days+2.20%+0.07%NGNM
90 days+8.46%+0.00%NGNM

Correlation

-0.04over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	NGNM	USDS
Max drawdown (400d)	-2.6%	-0.4%
Risk-adjusted return (90d)	0.75	0.00

Relative strength over 90 days: NGNM outperformed USDS by 0.6% — measured on the NGNM/USDS ratio, so it holds regardless of market direction.

Mento Nigerian Naira →USDS →