Nebius Group N.V. (Backpack Securities) vs Tether Gold

Tether Gold (XAUT) is 14068.1× the size of Nebius Group N.V. (Backpack Securities) (NBIS) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 38 shared trading days). NBIS has been the more volatile of the two, at 110% annualised against XAUT's 24%.

Correlation: 0.46
Size ratio: 1 : 14068.1

Nebius Group N.V. (Backpack Securities)NBIS

$144.8900

24h: +1.67%
Market cap: $231,323
Volume 24h: $31,253
Volatility (ann.): 110%

Tether GoldXAUT

$4,033

24h: +1.85%
Market cap: $3.25B
Volume 24h: $260.40M
Volatility (ann.): 24%

NBIS 0.0%Share of the two combined market caps100.0% XAUT

Performance

NBISXAUT

7 days-36.73%-3.11%XAUT
30 days-38.72%-5.07%XAUT
90 days—-7.64%—

Correlation

0.46over 38 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5890d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	NBIS	XAUT
Max drawdown (400d)	-41.6%	-19.4%
Risk-adjusted return (90d)	-0.22	-0.36

Relative strength over 90 days: XAUT outperformed NBIS by 17.0% — measured on the NBIS/XAUT ratio, so it holds regardless of market direction.

Nebius Group N.V. (Backpack Securities) →Tether Gold →