KAITO (KAITO) is 6.2× the size of Newton Protocol (NEWT) by market capitalisation. Over the past 1 year, NEWT is ahead by 9.8 percentage points (NEWT -64.4% against KAITO -74.1%). Their daily returns move loosely together (correlation 0.42 across 399 shared trading days). KAITO has been the more volatile of the two, at 104% annualised against NEWT's 78%.
NEWTKAITO
0.42over 399 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 | NEWT | KAITO |
|---|---|---|
| Max drawdown (400d) | -82.8% | -83.8% |
| Risk-adjusted return (90d) | 0.15 | -0.76 |
| Best 30 days (past year) | +25.9% | +133.5% |
| Worst 30 days (past year) | -40.8% | -75.3% |
Relative strength over 90 days: NEWT outperformed KAITO by 338.8% — measured on the NEWT/KAITO ratio, so it holds regardless of market direction.