NOAH DAO (NOAH) and SolonPad (SOLON) compared side by side. Over the past 30 days, NOAH is ahead by 29.0 percentage points (NOAH -53.6% against SOLON -82.6%). Their daily returns move barely together (correlation 0.29 across 31 shared trading days). SOLON has been the more volatile of the two, at 457% annualised against NOAH's 314%.
NOAHSOLON
0.29over 31 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 | NOAH | SOLON |
|---|---|---|
| Max drawdown (400d) | -57.4% | -83.2% |
| Risk-adjusted return (90d) | -0.17 | -0.15 |
Relative strength over 90 days: NOAH outperformed SOLON by 6.7% — measured on the NOAH/SOLON ratio, so it holds regardless of market direction.