FTX (FTT) and NEXO (NEXO) compared side by side. Over the past 1 year, NEXO is ahead by 41.7 percentage points (FTT -73.5% against NEXO -31.8%). Their daily returns move loosely together (correlation 0.40 across 373 shared trading days). FTT has been the more volatile of the two, at 99% annualised against NEXO's 44%.
FTTNEXO
0.40over 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 | FTT | NEXO |
|---|---|---|
| Max drawdown (400d) | -79.6% | -47.5% |
| Risk-adjusted return (90d) | 0.05 | 0.07 |
| Best 30 days (past year) | +29.4% | +30.0% |
| Worst 30 days (past year) | -47.7% | -31.4% |
Relative strength over 90 days: FTT outperformed NEXO by 6.2% — measured on the FTT/NEXO ratio, so it holds regardless of market direction.