Decentraland (MANA) is 4.2× the size of Notcoin (NOT) by market capitalisation. Over the past 1 year, NOT is ahead by 15.7 percentage points (NOT -46.8% against MANA -62.5%). Their daily returns move closely together (correlation 0.64 across 399 shared trading days). NOT has been the more volatile of the two, at 104% annualised against MANA's 77%.
NOTMANA
0.64over 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 | NOT | MANA |
|---|---|---|
| Max drawdown (400d) | -80.0% | -82.0% |
| Risk-adjusted return (90d) | 0.01 | 0.19 |
| Best 30 days (past year) | +93.4% | +43.6% |
| Worst 30 days (past year) | -46.3% | -42.8% |
Relative strength over 90 days: MANA outperformed NOT by 10.8% — measured on the NOT/MANA ratio, so it holds regardless of market direction.