Morpho (MORPHO) is 33.1× the size of BIM (BIM) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 54 shared trading days). MORPHO has been the more volatile of the two, at 94% annualised against BIM's 51%.
BIMMORPHO
0.36over 54 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 | BIM | MORPHO |
|---|---|---|
| Max drawdown (400d) | -17.1% | -51.0% |
| Risk-adjusted return (90d) | 0.01 | 0.13 |
| Best 30 days (past year) | — | +77.8% |
| Worst 30 days (past year) | — | -44.8% |
Relative strength over 90 days: BIM outperformed MORPHO by 9.0% — measured on the BIM/MORPHO ratio, so it holds regardless of market direction.