OKB (OKB) is 113.8× the size of BOB (Build on Bitcoin) (BOB) by market capitalisation. Their daily returns move barely together (correlation 0.28 across 40 shared trading days). BOB has been the more volatile of the two, at 162% annualised against OKB's 53%.
BOBOKB
0.28over 40 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 | BOB | OKB |
|---|---|---|
| Max drawdown (400d) | -32.6% | -12.2% |
| Risk-adjusted return (90d) | -0.06 | 0.06 |
Relative strength over 90 days: BOB outperformed OKB by 5.2% — measured on the BOB/OKB ratio, so it holds regardless of market direction.