Halloween Mask (HMASK) and Bordrless (BORDR) compared side by side. Over the past 30 days, HMASK is ahead by 2.6 percentage points (HMASK -97.1% against BORDR -99.6%). Their daily returns move barely together (correlation 0.17 across 21 shared trading days). BORDR has been the more volatile of the two, at 932% annualised against HMASK's 574%.
HMASKBORDR
0.17over 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 | HMASK | BORDR |
|---|---|---|
| Max drawdown (400d) | -97.1% | -99.8% |
| Risk-adjusted return (90d) | -0.17 | -0.10 |
Relative strength over 90 days: HMASK outperformed BORDR by 45.2% — measured on the HMASK/BORDR ratio, so it holds regardless of market direction.