Blockchain Capital (BCAP) and Circle USYC (USYC) compared side by side. Over the past 30 days, USYC is ahead by 1.0 percentage points (BCAP -1.0% against USYC +0.0%). Their daily returns move barely together (correlation 0.01 across 42 shared trading days). BCAP has been the more volatile of the two, at 6% annualised against USYC's 2%.
BCAPUSYC
0.01over 42 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 | BCAP | USYC |
|---|---|---|
| Max drawdown (400d) | -2.1% | 0.0% |
| Risk-adjusted return (90d) | -0.15 | 0.39 |
Relative strength over 90 days: USYC outperformed BCAP by 1.5% — measured on the BCAP/USYC ratio, so it holds regardless of market direction.