BULLA (BULLA) is 1153.7× the size of MMM (MMM) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 23 shared trading days). BULLA has been the more volatile of the two, at 617% annualised against MMM's 143%.
MMMBULLA
0.06over 23 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 | MMM | BULLA |
|---|---|---|
| Max drawdown (400d) | -57.9% | -55.1% |
| Risk-adjusted return (90d) | -0.10 | 0.46 |
Relative strength over 90 days: BULLA outperformed MMM by 77.2% — measured on the MMM/BULLA ratio, so it holds regardless of market direction.