Blur (BLUR) is 161.5× the size of Nafter (NAFT) by market capitalisation. Over the past 1 year, NAFT is ahead by 21.7 percentage points (NAFT -59.9% against BLUR -81.6%). Their daily returns move barely together (correlation 0.29 across 369 shared trading days). Both have run at a similar volatility, around 109% annualised.
NAFTBLUR
0.29over 369 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 | NAFT | BLUR |
|---|---|---|
| Max drawdown (400d) | -74.8% | -90.8% |
| Risk-adjusted return (90d) | -0.39 | -0.41 |
| Best 30 days (past year) | +172.8% | +78.9% |
| Worst 30 days (past year) | -58.5% | -65.4% |
Relative strength over 90 days: NAFT outperformed BLUR by 35.6% — measured on the NAFT/BLUR ratio, so it holds regardless of market direction.