Render (RENDER) is 1047.5× the size of NuNet (NTX) by market capitalisation. Over the past 1 year, RENDER is ahead by 62.2 percentage points (NTX -87.7% against RENDER -25.5%). Their daily returns move loosely together (correlation 0.47 across 363 shared trading days). NTX has been the more volatile of the two, at 125% annualised against RENDER's 95%.
NTXRENDER
0.47over 363 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 | RENDER |
|---|---|---|
| Max drawdown (400d) | -93.0% | -66.8% |
| Risk-adjusted return (90d) | -0.27 | 0.17 |
| Best 30 days (past year) | — | +82.4% |
| Worst 30 days (past year) | — | -49.7% |
Relative strength over 90 days: RENDER outperformed NTX by 53.3% — measured on the NTX/RENDER ratio, so it holds regardless of market direction.