Bio Protocol (BIO) is 1087.7× the size of Brain Worms (BWORM) by market capitalisation. Their daily returns move barely together (correlation 0.28 across 183 shared trading days). BIO has been the more volatile of the two, at 137% annualised against BWORM's 97%.
BWORMBIO
0.28over 183 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 | BWORM | BIO |
|---|---|---|
| Max drawdown (400d) | -64.1% | -88.7% |
| Risk-adjusted return (90d) | -0.03 | -0.12 |
| Best 30 days (past year) | — | +253.8% |
| Worst 30 days (past year) | — | -52.7% |
Relative strength over 90 days: BWORM outperformed BIO by 80.1% — measured on the BWORM/BIO ratio, so it holds regardless of market direction.