Bawsaq (BAWSAQ) and Bordrless (BORDR) compared side by side. Over the past 30 days, BAWSAQ is ahead by 83.3 percentage points (BAWSAQ -16.1% against BORDR -99.5%). Their daily returns move barely together (correlation 0.09 across 35 shared trading days). BAWSAQ has been the more volatile of the two, at 6251% annualised against BORDR's 944%.
BAWSAQBORDR
0.09over 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 | BAWSAQ | BORDR |
|---|---|---|
| Max drawdown (400d) | -90.9% | -99.8% |
| Risk-adjusted return (90d) | 0.00 | -0.10 |
Relative strength over 90 days: BAWSAQ outperformed BORDR by 3660.1% — measured on the BAWSAQ/BORDR ratio, so it holds regardless of market direction.