MemeCore (M) is 1107.4× the size of Bellscoin (BELLS) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.01 across 36 shared trading days). Both have run at a similar volatility, around 111% annualised.
BELLSM
-0.01over 36 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 | BELLS | M |
|---|---|---|
| Max drawdown (400d) | -87.5% | -41.1% |
| Risk-adjusted return (90d) | -0.36 | -0.23 |
Relative strength over 90 days: M outperformed BELLS by 24.8% — measured on the BELLS/M ratio, so it holds regardless of market direction.