Snake Oil Salesman (SOIL) and Bordrless (BORDR) compared side by side. Over the past 30 days, SOIL is ahead by 39.3 percentage points (SOIL -60.2% against BORDR -99.5%). Their daily returns move barely together (correlation 0.21 across 24 shared trading days). BORDR has been the more volatile of the two, at 944% annualised against SOIL's 119%.
SOILBORDR
0.21over 24 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 | SOIL | BORDR |
|---|---|---|
| Max drawdown (400d) | -62.6% | -99.8% |
| Risk-adjusted return (90d) | -0.53 | -0.10 |
Relative strength over 90 days: SOIL outperformed BORDR by 1249.3% — measured on the SOIL/BORDR ratio, so it holds regardless of market direction.