Ethereum (ETH) is 7143.9× the size of NovaChargeX Coin (NCX) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 30 shared trading days). ETH has been the more volatile of the two, at 65% annualised against NCX's 43%.
| Period | NCX | ETH | Ahead |
|---|---|---|---|
| 7 days | +6.50% | +4.23% | NCX |
| 30 days | +32.69% | +13.15% | NCX |
| 90 days | — | +54.23% | — |
| 1 year | — | -41.08% | — |
| Metric | NCX | ETH |
|---|---|---|
| Max drawdown (400d) | -1.6% | -67.5% |
| Risk-adjusted return (90d) | 0.77 | 0.97 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: NCX outperformed ETH by 26.8% — measured on the NCX/ETH ratio, so it holds regardless of market direction.
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.