Ethereum (ETH) is 20293297.3× the size of UseNosh (NOSH) by market capitalisation. Their daily returns move barely together (correlation 0.14 across 28 shared trading days). NOSH has been the more volatile of the two, at 228438% annualised against ETH's 62%.
NOSHETH
0.14over 28 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 | NOSH | ETH |
|---|---|---|
| Max drawdown (400d) | -99.7% | -66.5% |
| Risk-adjusted return (90d) | 0.00 | 0.43 |
| Best 30 days (past year) | — | +34.1% |
| Worst 30 days (past year) | — | -44.6% |
Relative strength over 90 days: NOSH outperformed ETH by 411.8% — measured on the NOSH/ETH ratio, so it holds regardless of market direction.