NEAR Protocol (NEAR) is 7877.7× the size of Effect AI (EFFECT) by market capitalisation. Over the past 1 year, NEAR is ahead by 171.5 percentage points (EFFECT -71.1% against NEAR +100.4%). Their daily returns move barely together (correlation 0.11 across 373 shared trading days). NEAR has been the more volatile of the two, at 108% annualised against EFFECT's 50%.
EFFECTNEAR
0.11over 373 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 | EFFECT | NEAR |
|---|---|---|
| Max drawdown (400d) | -72.5% | -68.7% |
| Risk-adjusted return (90d) | -0.37 | 0.98 |
| Best 30 days (past year) | +32.5% | +195.3% |
| Worst 30 days (past year) | -34.4% | -48.1% |
Relative strength over 90 days: NEAR outperformed EFFECT by 62.1% — measured on the EFFECT/NEAR ratio, so it holds regardless of market direction.