INSURANCE (INSURANCE) and Nexus Mutual (NXM) compared side by side. Over the past 30 days, NXM is ahead by 8.1 percentage points (INSURANCE -16.8% against NXM -8.8%). Their daily returns move closely together (correlation 0.62 across 21 shared trading days). NXM has been the more volatile of the two, at 53% annualised against INSURANCE's 34%.
INSURANCENXM
0.62over 21 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 | INSURANCE | NXM |
|---|---|---|
| Max drawdown (400d) | -17.4% | -17.2% |
| Risk-adjusted return (90d) | -0.46 | 0.28 |
Relative strength over 90 days: NXM outperformed INSURANCE by 2.4% — measured on the INSURANCE/NXM ratio, so it holds regardless of market direction.