Morpho (MORPHO) is 331.1× the size of BugsCoin (BGSC) by market capitalisation. Over the past 1 year, MORPHO is ahead by 103.4 percentage points (BGSC -87.8% against MORPHO +15.6%). Their daily returns move barely together (correlation 0.29 across 371 shared trading days). BGSC has been the more volatile of the two, at 151% annualised against MORPHO's 94%.
BGSCMORPHO
0.29over 371 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 | BGSC | MORPHO |
|---|---|---|
| Max drawdown (400d) | -91.4% | -51.0% |
| Risk-adjusted return (90d) | -0.39 | 0.13 |
| Best 30 days (past year) | +243.1% | +77.8% |
| Worst 30 days (past year) | -69.7% | -44.8% |
Relative strength over 90 days: MORPHO outperformed BGSC by 33.3% — measured on the BGSC/MORPHO ratio, so it holds regardless of market direction.