Ness Lab (NESS) and Pyth Network (PYTH) compared side by side. Over the past 1 year, PYTH is ahead by 58.4 percentage points (NESS -89.6% against PYTH -31.1%). Their daily returns move barely together (correlation 0.09 across 301 shared trading days). PYTH has been the more volatile of the two, at 98% annualised against NESS's 67%.
NESSPYTH
0.09over 301 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 | PYTH |
|---|---|---|
| Max drawdown (400d) | -90.1% | -81.1% |
| Risk-adjusted return (90d) | -0.85 | 0.70 |
| Best 30 days (past year) | — | +76.8% |
| Worst 30 days (past year) | — | -46.7% |
Relative strength over 90 days: PYTH outperformed NESS by 60.4% — measured on the NESS/PYTH ratio, so it holds regardless of market direction.