Grass (GRASS) is 535.4× the size of NuNet (NTX) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.47 across 35 shared trading days). GRASS has been the more volatile of the two, at 213% annualised against NTX's 125%.
NTXGRASS
-0.47over 35 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 | NTX | GRASS |
|---|---|---|
| Max drawdown (400d) | -93.0% | -25.3% |
| Risk-adjusted return (90d) | -0.27 | 0.35 |
Relative strength over 90 days: GRASS outperformed NTX by 62.6% — measured on the NTX/GRASS ratio, so it holds regardless of market direction.