Grass (GRASS) is 971.2× the size of Nodepay (NC) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.21 across 44 shared trading days). GRASS has been the more volatile of the two, at 213% annualised against NC's 144%.
NCGRASS
-0.21over 44 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 | NC | GRASS |
|---|---|---|
| Max drawdown (400d) | -98.5% | -25.3% |
| Risk-adjusted return (90d) | 0.66 | 0.35 |
| Best 30 days (past year) | +145.7% | — |
| Worst 30 days (past year) | -78.1% | — |
Relative strength over 90 days: GRASS outperformed NC by 21.8% — measured on the NC/GRASS ratio, so it holds regardless of market direction.