Notcoin (NOT) is 33.7× the size of SOEX (SOEX) by market capitalisation. Over the past 1 year, SOEX is ahead by 0.8 percentage points (SOEX -46.8% against NOT -47.6%). Their daily returns move barely together (correlation 0.13 across 363 shared trading days). SOEX has been the more volatile of the two, at 235% annualised against NOT's 104%.
SOEXNOT
0.13over 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 | SOEX | NOT |
|---|---|---|
| Max drawdown (400d) | -86.2% | -80.0% |
| Risk-adjusted return (90d) | 0.05 | 0.00 |
| Best 30 days (past year) | — | +93.4% |
| Worst 30 days (past year) | — | -46.3% |
Relative strength over 90 days: NOT outperformed SOEX by 12.7% — measured on the SOEX/NOT ratio, so it holds regardless of market direction.