Dash (DASH) is 211.2× the size of Phoenic Token (PNIC) by market capitalisation. Over the past 1 year, DASH is ahead by 4.5 percentage points (PNIC -65.7% against DASH -61.2%). Their daily returns move barely in opposite directions (correlation -0.01 across 363 shared trading days). Both have run at a similar volatility, around 139% annualised.
PNICDASH
-0.01over 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 | PNIC | DASH |
|---|---|---|
| Max drawdown (400d) | -88.1% | -75.5% |
| Risk-adjusted return (90d) | -0.20 | 0.42 |
| Best 30 days (past year) | — | +131.4% |
| Worst 30 days (past year) | — | -59.2% |
Relative strength over 90 days: DASH outperformed PNIC by 63.9% — measured on the PNIC/DASH ratio, so it holds regardless of market direction.