Chainlink (LINK) is 521673.7× the size of Novastro (XNL) by market capitalisation. Over the past 1 year, LINK is ahead by 77.5 percentage points (XNL -99.6% against LINK -22.0%). Their daily returns move barely together (correlation 0.19 across 345 shared trading days). XNL has been the more volatile of the two, at 182% annualised against LINK's 71%.
XNLLINK
0.19over 345 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 | XNL | LINK |
|---|---|---|
| Max drawdown (400d) | -99.6% | -69.2% |
| Risk-adjusted return (90d) | -0.55 | 0.53 |
| Best 30 days (past year) | — | +61.6% |
| Worst 30 days (past year) | — | -43.6% |
Relative strength over 90 days: LINK outperformed XNL by 51.3% — measured on the XNL/LINK ratio, so it holds regardless of market direction.