Snapmuse.io (SMX) and Enjin Coin (ENJ) compared side by side. Over the past 1 year, ENJ is ahead by 16.1 percentage points (SMX -53.7% against ENJ -37.6%). Their daily returns move barely together (correlation 0.05 across 371 shared trading days). SMX has been the more volatile of the two, at 168% annualised against ENJ's 115%.
SMXENJ
0.05over 371 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 | SMX | ENJ |
|---|---|---|
| Max drawdown (400d) | -84.5% | -73.9% |
| Risk-adjusted return (90d) | -0.28 | -0.06 |
| Best 30 days (past year) | +201.2% | +365.5% |
| Worst 30 days (past year) | -73.4% | -51.0% |
Relative strength over 90 days: ENJ outperformed SMX by 67.0% — measured on the SMX/ENJ ratio, so it holds regardless of market direction.