XPay (XPAY) and Dash (DASH) compared side by side. Their daily returns move barely in opposite directions (correlation -0.29 across 22 shared trading days). XPAY has been the more volatile of the two, at 646% annualised against DASH's 147%.
XPAYDASH
-0.29over 22 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 | XPAY | DASH |
|---|---|---|
| Max drawdown (400d) | -49.6% | -75.5% |
| Risk-adjusted return (90d) | -0.03 | 0.35 |
| Best 30 days (past year) | — | +131.4% |
| Worst 30 days (past year) | — | -58.2% |
Relative strength over 90 days: XPAY outperformed DASH by 4.0% — measured on the XPAY/DASH ratio, so it holds regardless of market direction.