Non-Playable Coin (NPC) is 110.1× the size of Katana Inu (KATA) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.37 across 45 shared trading days). KATA has been the more volatile of the two, at 188% annualised against NPC's 160%.
KATANPC
-0.37over 45 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 | KATA | NPC |
|---|---|---|
| Max drawdown (400d) | -88.8% | -34.4% |
| Risk-adjusted return (90d) | 0.34 | 1.26 |
| Best 30 days (past year) | +135.3% | — |
| Worst 30 days (past year) | -55.5% | — |
Relative strength over 90 days: NPC outperformed KATA by 28.3% — measured on the KATA/NPC ratio, so it holds regardless of market direction.