Break And Reclaim (BAN) and 牛来 (Niu Lai) (牛来) compared side by side. Over the past 30 days, 牛来 is ahead by 22.4 percentage points (BAN -47.7% against 牛来 -25.3%). Their daily returns move barely together (correlation 0.06 across 34 shared trading days). BAN has been the more volatile of the two, at 399% annualised against 牛来's 196%.
BAN牛来
0.06over 34 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 | BAN | 牛来 |
|---|---|---|
| Max drawdown (400d) | -72.0% | -60.2% |
| Risk-adjusted return (90d) | -0.11 | -0.11 |
Relative strength over 90 days: 牛来 outperformed BAN by 10.6% — measured on the BAN/牛来 ratio, so it holds regardless of market direction.