Protean vs NOVA

NOVA (SN68) is 770.2× the size of Protean (PRTN) by market capitalisation. Over the past 30 days, PRTN is ahead by 61.7 percentage points (PRTN +83.6% against SN68 +21.9%). Their daily returns move loosely together (correlation 0.42 across 25 shared trading days). PRTN has been the more volatile of the two, at 415% annualised against SN68's 97%.

Correlation: 0.42
Size ratio: 1 : 770.2
Ahead over 30 days: PRTN

ProteanPRTN

$2.742e-7

24h: —
Market cap: $27,424
Volume 24h: —
Volatility (ann.): 415%

NOVASN68

$3.8500

24h: -6.64%
Market cap: $21.12M
Volume 24h: $127,276
Volatility (ann.): 97%

PRTN 0.1%Share of the two combined market caps99.9% SN68

Performance

PRTNSN68

7 days+80.33%-0.47%PRTN
30 days+83.61%+21.88%PRTN

Correlation

0.42over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4290d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	PRTN	SN68
Max drawdown (400d)	-23.9%	-18.3%
Risk-adjusted return (90d)	0.19	0.16

Relative strength over 90 days: SN68 outperformed PRTN by 20.6% — measured on the PRTN/SN68 ratio, so it holds regardless of market direction.

Protean →NOVA →