Pieverse (PIEVERSE) is 18035.6× the size of Nuwa World by Virtuals (NUWA) by market capitalisation. Their daily returns move closely together (correlation 0.75 across 30 shared trading days). Both have run at a similar volatility, around 147% annualised.
NUWAPIEVERSE
0.75over 30 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 | NUWA | PIEVERSE |
|---|---|---|
| Max drawdown (400d) | -92.2% | -38.7% |
| Risk-adjusted return (90d) | -0.45 | 0.28 |
Relative strength over 90 days: PIEVERSE outperformed NUWA by 47.4% — measured on the NUWA/PIEVERSE ratio, so it holds regardless of market direction.