BabyBoomToken (BBT) is 1.5× the size of Hippo Protocol (HP) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 31 shared trading days). BBT has been the more volatile of the two, at 164% annualised against HP's 62%.
BBTHP
-0.03over 31 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 | BBT | HP |
|---|---|---|
| Max drawdown (400d) | -41.3% | -85.0% |
| Risk-adjusted return (90d) | -0.23 | 0.25 |
Relative strength over 90 days: HP outperformed BBT by 62.1% — measured on the BBT/HP ratio, so it holds regardless of market direction.