Bordrless (BORDR) is 8.6× the size of glungus (GLUNGUS) by market capitalisation. Over the past 30 days, GLUNGUS is ahead by 6.1 percentage points (GLUNGUS -93.6% against BORDR -99.7%). Their daily returns move barely together (correlation 0.24 across 30 shared trading days). Both have run at a similar volatility, around 938% annualised.
GLUNGUSBORDR
0.24over 30 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 | GLUNGUS | BORDR |
|---|---|---|
| Max drawdown (400d) | -98.6% | -99.8% |
| Risk-adjusted return (90d) | -0.10 | -0.11 |
Relative strength over 90 days: GLUNGUS outperformed BORDR by 168.5% — measured on the GLUNGUS/BORDR ratio, so it holds regardless of market direction.