Dash (DASH) is 391.7× the size of NAWS.AI (NAWS) by market capitalisation. Over the past 1 year, NAWS is ahead by 15.6 percentage points (NAWS -45.6% against DASH -61.2%). Their daily returns move barely in opposite directions (correlation -0.02 across 364 shared trading days). NAWS has been the more volatile of the two, at 263% annualised against DASH's 148%.
NAWSDASH
-0.02over 364 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 | NAWS | DASH |
|---|---|---|
| Max drawdown (400d) | -95.6% | -75.5% |
| Risk-adjusted return (90d) | -0.29 | 0.42 |
| Best 30 days (past year) | — | +131.4% |
| Worst 30 days (past year) | — | -59.2% |
Relative strength over 90 days: DASH outperformed NAWS by 83.5% — measured on the NAWS/DASH ratio, so it holds regardless of market direction.