Falcon Finance (FF) is 5.1× the size of Babylon (BABY) by market capitalisation. Over the past 1 year, FF is ahead by 25.9 percentage points (BABY -51.4% against FF -25.5%). Their daily returns move barely together (correlation 0.20 across 399 shared trading days). Both have run at a similar volatility, around 116% annualised.
BABYFF
0.20over 399 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 | BABY | FF |
|---|---|---|
| Max drawdown (400d) | -83.3% | -70.7% |
| Risk-adjusted return (90d) | 0.09 | 0.35 |
| Best 30 days (past year) | +50.6% | +157.9% |
| Worst 30 days (past year) | -46.1% | -42.6% |
Relative strength over 90 days: FF outperformed BABY by 21.0% — measured on the BABY/FF ratio, so it holds regardless of market direction.