Fartcoin (FARTCOIN) is 2632.4× the size of Built on Nothing (BON) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 21 shared trading days). BON has been the more volatile of the two, at 281% annualised against FARTCOIN's 155%.
BONFARTCOIN
0.23over 21 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 | BON | FARTCOIN |
|---|---|---|
| Max drawdown (400d) | -85.9% | -46.0% |
| Risk-adjusted return (90d) | -0.27 | -0.08 |
Relative strength over 90 days: FARTCOIN outperformed BON by 22.2% — measured on the BON/FARTCOIN ratio, so it holds regardless of market direction.