OriginTrail (TRAC) is 3.5× the size of Bio Protocol (BIO) by market capitalisation. Their daily returns move loosely together (correlation 0.51 across 57 shared trading days). BIO has been the more volatile of the two, at 137% annualised against TRAC's 104%.
BIOTRAC
0.51over 57 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 | BIO | TRAC |
|---|---|---|
| Max drawdown (400d) | -89.5% | -22.2% |
| Risk-adjusted return (90d) | -0.17 | 0.29 |
| Best 30 days (past year) | +253.8% | — |
| Worst 30 days (past year) | -52.7% | — |
Relative strength over 90 days: TRAC outperformed BIO by 35.7% — measured on the BIO/TRAC ratio, so it holds regardless of market direction.