Ness Lab (NESS) and Genius (GENIUS) compared side by side. Their daily returns move barely in opposite directions (correlation -0.03 across 131 shared trading days). GENIUS has been the more volatile of the two, at 96% annualised against NESS's 67%.
NESSGENIUS
-0.03over 131 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 | NESS | GENIUS |
|---|---|---|
| Max drawdown (400d) | -90.1% | -61.7% |
| Risk-adjusted return (90d) | -0.85 | -0.20 |
Relative strength over 90 days: NESS outperformed GENIUS by 2.2% — measured on the NESS/GENIUS ratio, so it holds regardless of market direction.