Re Protocol reUSDe vs Nexus Mutual

Nexus Mutual (NXM) is 3.3× the size of Re Protocol reUSDe (REUSDE) by market capitalisation. Over the past 30 days, REUSDE is ahead by 10.2 percentage points (REUSDE +1.4% against NXM -8.8%). Their daily returns move barely in opposite directions (correlation -0.18 across 34 shared trading days). NXM has been the more volatile of the two, at 53% annualised against REUSDE's 11%.

Correlation: -0.18
Size ratio: 1 : 3.3
Ahead over 30 days: REUSDE

Re Protocol reUSDeREUSDE

$1.4400

24h: -0.05%
Market cap: $29.29M
Volume 24h: $40,892
Volatility (ann.): 11%

Nexus MutualNXM

$61.8100

24h: +5.13%
Market cap: $95.78M
Volume 24h: —
Volatility (ann.): 53%

REUSDE 23.4%Share of the two combined market caps76.6% NXM

Performance

REUSDENXM

7 days+0.00%-1.00%REUSDE
30 days+1.42%-8.76%REUSDE

Correlation

-0.18over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1690d: 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	REUSDE	NXM
Max drawdown (400d)	-1.4%	-17.2%
Risk-adjusted return (90d)	0.13	0.28

Relative strength over 90 days: REUSDE outperformed NXM by 9.0% — measured on the REUSDE/NXM ratio, so it holds regardless of market direction.

Re Protocol reUSDe →Nexus Mutual →