DEAPCOIN (DEP) is 4.0× the size of Nakamoto Games (NAKA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 42 shared trading days). NAKA has been the more volatile of the two, at 184% annualised against DEP's 36%.
NAKADEP
-0.14over 42 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 | NAKA | DEP |
|---|---|---|
| Max drawdown (400d) | -39.0% | -5.9% |
| Risk-adjusted return (90d) | 1.14 | 0.07 |
Relative strength over 90 days: NAKA outperformed DEP by 115.5% — measured on the NAKA/DEP ratio, so it holds regardless of market direction.