币安人生 (BinanceLife) (币安人生) is 673.4× the size of Fair and Free (FAIR3) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.12 across 34 shared trading days). FAIR3 has been the more volatile of the two, at 399% annualised against 币安人生's 172%.
FAIR3币安人生
-0.12over 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 | FAIR3 | 币安人生 |
|---|---|---|
| Max drawdown (400d) | -44.9% | -84.5% |
| Risk-adjusted return (90d) | 0.13 | 0.02 |
Relative strength over 90 days: FAIR3 outperformed 币安人生 by 43.8% — measured on the FAIR3/币安人生 ratio, so it holds regardless of market direction.