RedStone (RED) is 1.9× the size of Bio Protocol (BIO) by market capitalisation. Over the past 1 year, RED is ahead by 21.8 percentage points (BIO -73.4% against RED -51.5%). Their daily returns move barely together (correlation 0.34 across 399 shared trading days). BIO has been the more volatile of the two, at 137% annualised against RED's 115%.
BIORED
0.34over 399 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 | RED |
|---|---|---|
| Max drawdown (400d) | -89.5% | -83.4% |
| Risk-adjusted return (90d) | -0.17 | 0.68 |
| Best 30 days (past year) | +253.8% | +69.2% |
| Worst 30 days (past year) | -52.7% | -41.3% |
Relative strength over 90 days: RED outperformed BIO by 47.4% — measured on the BIO/RED ratio, so it holds regardless of market direction.