BNB (BNB) is 195413.2× the size of Skeb (SKEB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.20 across 161 shared trading days). SKEB has been the more volatile of the two, at 71% annualised against BNB's 51%.
SKEBBNB
-0.20over 161 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 | SKEB | BNB |
|---|---|---|
| Max drawdown (400d) | -87.2% | -58.2% |
| Risk-adjusted return (90d) | -1.12 | 0.45 |
| Best 30 days (past year) | — | +29.4% |
| Worst 30 days (past year) | — | -34.9% |
Relative strength over 90 days: BNB outperformed SKEB by 61.0% — measured on the SKEB/BNB ratio, so it holds regardless of market direction.