Sable Network [OLD] (SABL) and Beldex (BDX) compared side by side. Over the past 30 days, BDX is ahead by 92.0 percentage points (SABL -97.6% against BDX -5.6%). Their daily returns move barely in opposite directions (correlation -0.14 across 26 shared trading days). SABL has been the more volatile of the two, at 691% annualised against BDX's 67%.
SABLBDX
-0.14over 26 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 | SABL | BDX |
|---|---|---|
| Max drawdown (400d) | -99.0% | -17.6% |
| Risk-adjusted return (90d) | -0.13 | -0.11 |
Relative strength over 90 days: BDX outperformed SABL by 90.0% — measured on the SABL/BDX ratio, so it holds regardless of market direction.