Happy Merchant (HAPPY) and Bordrless (BORDR) compared side by side. Over the past 30 days, HAPPY is ahead by 47.5 percentage points (HAPPY -51.9% against BORDR -99.5%). Their daily returns move barely together (correlation 0.26 across 29 shared trading days). BORDR has been the more volatile of the two, at 944% annualised against HAPPY's 232%.
HAPPYBORDR
0.26over 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 | HAPPY | BORDR |
|---|---|---|
| Max drawdown (400d) | -75.4% | -99.8% |
| Risk-adjusted return (90d) | -0.33 | -0.10 |
Relative strength over 90 days: HAPPY outperformed BORDR by 1331.3% — measured on the HAPPY/BORDR ratio, so it holds regardless of market direction.