Matrix vs Beldex

Beldex (BDX) is 16.2× the size of Matrix (MTX) by market capitalisation. Over the past 30 days, BDX is ahead by 13.5 percentage points (MTX -19.0% against BDX -5.5%). Their daily returns move barely in opposite directions (correlation -0.21 across 46 shared trading days). MTX has been the more volatile of the two, at 121% annualised against BDX's 65%.

Correlation: -0.21
Size ratio: 1 : 16.2
Ahead over 30 days: BDX

MatrixMTX

$35.4500

24h: -1.19%
Market cap: $35.45M
Volume 24h: $113,516
Volatility (ann.): 121%

BeldexBDX

$0.072760

24h: +0.18%
Market cap: $572.74M
Volume 24h: $9.31M
Volatility (ann.): 65%

MTX 5.8%Share of the two combined market caps94.2% BDX

Performance

MTXBDX

7 days+0.57%-2.71%MTX
30 days-19.01%-5.49%BDX

Correlation

-0.21over 46 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1990d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	MTX	BDX
Max drawdown (400d)	-41.6%	-20.8%
Risk-adjusted return (90d)	0.24	-0.15

Relative strength over 90 days: MTX outperformed BDX by 47.8% — measured on the MTX/BDX ratio, so it holds regardless of market direction.

Matrix →Beldex →