NOVA vs EfficientFrontier

EfficientFrontier (SN53) is 1.9× the size of NOVA (SN68) by market capitalisation. Over the past 30 days, SN53 is ahead by 0.8 percentage points (SN68 +21.9% against SN53 +22.7%). Their daily returns move barely together (correlation 0.30 across 30 shared trading days). SN53 has been the more volatile of the two, at 200% annualised against SN68's 97%.

Correlation: 0.30
Size ratio: 1 : 1.9
Ahead over 30 days: SN53

NOVASN68

$3.9200

24h: +0.98%
Market cap: $21.45M
Volume 24h: $397,366
Volatility (ann.): 97%

EfficientFrontierSN53

$6.8800

24h: -3.10%
Market cap: $40.18M
Volume 24h: $2.28M
Volatility (ann.): 200%

SN68 34.8%Share of the two combined market caps65.2% SN53

Performance

SN68SN53

7 days-0.47%-14.51%SN68
30 days+21.88%+22.72%SN53

Correlation

0.30over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	SN68	SN53
Max drawdown (400d)	-18.3%	-40.6%
Risk-adjusted return (90d)	0.16	0.09

Relative strength over 90 days: SN53 outperformed SN68 by 9.3% — measured on the SN68/SN53 ratio, so it holds regardless of market direction.

NOVA →EfficientFrontier →