Canton (CC) is 7.3× the size of Beldex (BDX) by market capitalisation. Over the past 30 days, CC is ahead by 8.9 percentage points (BDX -5.0% against CC +3.9%). Their daily returns move barely together (correlation 0.03 across 59 shared trading days). CC has been the more volatile of the two, at 125% annualised against BDX's 64%.
BDXCC
0.03over 59 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 | BDX | CC |
|---|---|---|
| Max drawdown (400d) | -20.8% | -30.6% |
| Risk-adjusted return (90d) | -0.15 | 0.04 |
Relative strength over 90 days: CC outperformed BDX by 13.5% — measured on the BDX/CC ratio, so it holds regardless of market direction.