Bittensor (TAO) is 1898.6× the size of Nodle Network (NODL) by market capitalisation. Over the past 1 year, NODL is ahead by 65.1 percentage points (NODL +13.5% against TAO -51.6%). Their daily returns move barely together (correlation 0.05 across 373 shared trading days). NODL has been the more volatile of the two, at 122% annualised against TAO's 97%.
NODLTAO
0.05over 373 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 | NODL | TAO |
|---|---|---|
| Max drawdown (400d) | -69.0% | -70.7% |
| Risk-adjusted return (90d) | -0.46 | 0.16 |
| Best 30 days (past year) | +470.0% | +104.1% |
| Worst 30 days (past year) | -45.0% | -48.1% |
Relative strength over 90 days: TAO outperformed NODL by 41.5% — measured on the NODL/TAO ratio, so it holds regardless of market direction.