Cipher vs QANplatform

QANplatform (QANX) is 28.9× the size of Cipher (CIPHER) by market capitalisation. Over the past 30 days, CIPHER is ahead by 9.3 percentage points (CIPHER -14.3% against QANX -23.7%). Their daily returns move loosely in opposite directions (correlation -0.42 across 37 shared trading days). CIPHER has been the more volatile of the two, at 133% annualised against QANX's 92%.

Correlation: -0.42
Size ratio: 1 : 28.9
Ahead over 30 days: CIPHER

CipherCIPHER

$0.001431

24h: -0.18%
Market cap: $572,388
Volume 24h: $29
Volatility (ann.): 133%

QANplatformQANX

$0.009744

24h: -3.15%
Market cap: $16.57M
Volume 24h: $42,876
Volatility (ann.): 92%

CIPHER 3.3%Share of the two combined market caps96.7% QANX

Performance

CIPHERQANX

7 days-5.55%-8.97%CIPHER
30 days-14.34%-23.68%CIPHER

Correlation

-0.42over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.5490d: 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	CIPHER	QANX
Max drawdown (400d)	-27.7%	-27.7%
Risk-adjusted return (90d)	0.15	-0.27

Relative strength over 90 days: CIPHER outperformed QANX by 53.7% — measured on the CIPHER/QANX ratio, so it holds regardless of market direction.

Cipher →QANplatform →