Notcoin (NOT) is 83.7× the size of Make TON Great Again (MTONGA) by market capitalisation. Their daily returns move loosely together (correlation 0.37 across 39 shared trading days). MTONGA has been the more volatile of the two, at 126% annualised against NOT's 104%.
MTONGANOT
0.37over 39 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 | MTONGA | NOT |
|---|---|---|
| Max drawdown (400d) | -26.0% | -80.0% |
| Risk-adjusted return (90d) | 0.05 | 0.01 |
| Best 30 days (past year) | — | +93.4% |
| Worst 30 days (past year) | — | -46.3% |
Relative strength over 90 days: MTONGA outperformed NOT by 33.0% — measured on the MTONGA/NOT ratio, so it holds regardless of market direction.