NovaAI (NOVAAI) and Ethereum (ETH) compared side by side. Their daily returns move barely in opposite directions (correlation -0.33 across 21 shared trading days). NOVAAI has been the more volatile of the two, at 223% annualised against ETH's 62%.
NOVAAIETH
-0.33over 21 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 | NOVAAI | ETH |
|---|---|---|
| Max drawdown (400d) | -30.7% | -66.5% |
| Risk-adjusted return (90d) | 0.20 | 0.36 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: NOVAAI outperformed ETH by 68.8% — measured on the NOVAAI/ETH ratio, so it holds regardless of market direction.