BNB (BNB) is 2908.7× the size of Matrix (MTX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.17 across 28 shared trading days). MTX has been the more volatile of the two, at 93% annualised against BNB's 52%.
| Period | MTX | BNB | Ahead |
|---|---|---|---|
| 7 days | -23.42% | +4.73% | BNB |
| 30 days | +24.84% | +16.37% | MTX |
| 90 days | — | +30.43% | — |
| 1 year | — | -22.57% | — |
| Metric | MTX | BNB |
|---|---|---|
| Max drawdown (400d) | -25.2% | -58.2% |
| Risk-adjusted return (90d) | 0.27 | 0.88 |
| Best 30 days (past year) | — | +29.4% |
| Worst 30 days (past year) | — | -34.9% |
Relative strength over 90 days: MTX outperformed BNB by 16.3% — measured on the MTX/BNB ratio, so it holds regardless of market direction.
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.