Beldex (BDX) is 380.6× the size of 0x0 (0X0) by market capitalisation. Over the past 30 days, BDX is ahead by 11.5 percentage points (0X0 -16.9% against BDX -5.5%). Their daily returns move barely together (correlation 0.17 across 30 shared trading days). Both have run at a similar volatility, around 66% annualised.
0X0BDX
0.17over 30 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 | 0X0 | BDX |
|---|---|---|
| Max drawdown (400d) | -23.9% | -20.8% |
| Risk-adjusted return (90d) | -0.29 | -0.15 |
Relative strength over 90 days: BDX outperformed 0X0 by 11.3% — measured on the 0X0/BDX ratio, so it holds regardless of market direction.