BNB Attestation Service (BAS) is 13.8× the size of League of Traders (LOT) by market capitalisation. Their daily returns move loosely together (correlation 0.57 across 45 shared trading days). BAS has been the more volatile of the two, at 93% annualised against LOT's 80%.
LOTBAS
0.57over 45 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 | LOT | BAS |
|---|---|---|
| Max drawdown (400d) | -31.1% | -47.0% |
| Risk-adjusted return (90d) | -0.24 | -0.45 |
Relative strength over 90 days: LOT outperformed BAS by 49.3% — measured on the LOT/BAS ratio, so it holds regardless of market direction.