Bedrock (BR) is 36.2× the size of ALEX Lab (ALEX) by market capitalisation. Their daily returns move barely together (correlation 0.03 across 35 shared trading days). BR has been the more volatile of the two, at 524% annualised against ALEX's 138%.
ALEXBR
0.03over 35 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 | ALEX | BR |
|---|---|---|
| Max drawdown (400d) | -90.1% | -62.7% |
| Risk-adjusted return (90d) | 1.31 | 0.26 |
Relative strength over 90 days: BR outperformed ALEX by 41.4% — measured on the ALEX/BR ratio, so it holds regardless of market direction.