Notcoin (NOT) is 423.4× the size of Gentleman (MAN) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.26 across 29 shared trading days). MAN has been the more volatile of the two, at 134% annualised against NOT's 104%.
MANNOT
-0.26over 29 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 | MAN | NOT |
|---|---|---|
| Max drawdown (400d) | -32.3% | -80.0% |
| Risk-adjusted return (90d) | -0.10 | 0.01 |
| Best 30 days (past year) | — | +93.4% |
| Worst 30 days (past year) | — | -46.3% |
Relative strength over 90 days: MAN outperformed NOT by 21.9% — measured on the MAN/NOT ratio, so it holds regardless of market direction.