Babylon (BABY) is 2.3× the size of Solv Protocol (SOLV) by market capitalisation. Over the past 1 year, BABY is ahead by 28.1 percentage points (SOLV -75.5% against BABY -47.3%). Their daily returns move barely together (correlation 0.22 across 399 shared trading days). Both have run at a similar volatility, around 118% annualised.
SOLVBABY
0.22over 399 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 | SOLV | BABY |
|---|---|---|
| Max drawdown (400d) | -95.0% | -83.3% |
| Risk-adjusted return (90d) | 0.86 | 0.07 |
| Best 30 days (past year) | +145.0% | +50.6% |
| Worst 30 days (past year) | -67.5% | -46.1% |
Relative strength over 90 days: SOLV outperformed BABY by 80.2% — measured on the SOLV/BABY ratio, so it holds regardless of market direction.