EtherFi Liquid Reserve vs Nest BlackOpal LiquidStone II Vault

Nest BlackOpal LiquidStone II Vault (NOPAL) is 42.0× the size of EtherFi Liquid Reserve (LIQUIDRESERVE) by market capitalisation. Over the past 30 days, NOPAL is ahead by 0.9 percentage points (LIQUIDRESERVE +0.4% against NOPAL +1.3%). Their daily returns move loosely together (correlation 0.39 across 23 shared trading days). NOPAL has been the more volatile of the two, at 2% annualised against LIQUIDRESERVE's 1%.

Correlation: 0.39
Size ratio: 1 : 42.0
Ahead over 30 days: NOPAL

EtherFi Liquid ReserveLIQUIDRESERVE

$1.0380

24h: +0.01%
Market cap: $2.69M
Volume 24h: —
Volatility (ann.): 1%

Nest BlackOpal LiquidStone II VaultNOPAL

$1.1100

24h: +0.00%
Market cap: $112.83M
Volume 24h: —
Volatility (ann.): 2%

LIQUIDRESERVE 2.3%Share of the two combined market caps97.7% NOPAL

Performance

LIQUIDRESERVENOPAL

7 days+0.10%+0.00%LIQUIDRESERVE
30 days+0.39%+1.28%NOPAL

Correlation

0.39over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	LIQUIDRESERVE	NOPAL
Max drawdown (400d)	0.0%	0.0%
Risk-adjusted return (90d)	0.61	0.83

Relative strength over 90 days: NOPAL outperformed LIQUIDRESERVE by 0.4% — measured on the LIQUIDRESERVE/NOPAL ratio, so it holds regardless of market direction.

EtherFi Liquid Reserve →Nest BlackOpal LiquidStone II Vault →