SafePal (SFP) is 3625.2× the size of nanopay (NANO) by market capitalisation. Their daily returns move barely together (correlation 0.27 across 114 shared trading days). NANO has been the more volatile of the two, at 211% annualised against SFP's 71%.
NANOSFP
0.27over 114 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 | NANO | SFP |
|---|---|---|
| Max drawdown (400d) | -69.6% | -62.4% |
| Risk-adjusted return (90d) | -0.15 | -0.14 |
| Best 30 days (past year) | — | +33.7% |
| Worst 30 days (past year) | — | -33.2% |
Relative strength over 90 days: NANO outperformed SFP by 35.2% — measured on the NANO/SFP ratio, so it holds regardless of market direction.