aixbt (AIXBT) is 453.5× the size of Nasdao Ai (NDAO) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.31 across 21 shared trading days). AIXBT has been the more volatile of the two, at 118% annualised against NDAO's 52%.
NDAOAIXBT
-0.31over 21 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 | NDAO | AIXBT |
|---|---|---|
| Max drawdown (400d) | -23.2% | -84.5% |
| Risk-adjusted return (90d) | -0.42 | -0.07 |
| Best 30 days (past year) | — | +62.1% |
| Worst 30 days (past year) | — | -52.0% |
Relative strength over 90 days: NDAO outperformed AIXBT by 8.4% — measured on the NDAO/AIXBT ratio, so it holds regardless of market direction.