Beldex (BDX) is 25.2× the size of Chia (XCH) by market capitalisation. Over the past 30 days, BDX is ahead by 6.1 percentage points (XCH -11.0% against BDX -5.0%). Their daily returns move barely together (correlation 0.14 across 29 shared trading days). XCH has been the more volatile of the two, at 90% annualised against BDX's 64%.
XCHBDX
0.14over 29 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 | XCH | BDX |
|---|---|---|
| Max drawdown (400d) | -26.7% | -20.8% |
| Risk-adjusted return (90d) | -0.09 | -0.15 |
Relative strength over 90 days: XCH outperformed BDX by 1.3% — measured on the XCH/BDX ratio, so it holds regardless of market direction.