Stoxes vs Bordrless

Bordrless (BORDR) is 1.7× the size of Stoxes (STOXES) by market capitalisation. Over the past 30 days, STOXES is ahead by 27.9 percentage points (STOXES -71.8% against BORDR -99.7%). Their daily returns move barely together (correlation 0.07 across 37 shared trading days). BORDR has been the more volatile of the two, at 919% annualised against STOXES's 626%.

Correlation: 0.07
Size ratio: 1 : 1.7
Ahead over 30 days: STOXES

StoxesSTOXES

$2.812e-5

24h: -4.77%
Market cap: $12,206
Volume 24h: $1,362
Volatility (ann.): 626%

BordrlessBORDR

$2.055e-5

24h: +23.32%
Market cap: $20,548
Volume 24h: $1.10M
Volatility (ann.): 919%

STOXES 37.3%Share of the two combined market caps62.7% BORDR

Performance

STOXESBORDR

7 days-61.58%-35.15%BORDR
30 days-71.82%-99.72%STOXES

Correlation

0.07over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1290d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	STOXES	BORDR
Max drawdown (400d)	-90.7%	-99.8%
Risk-adjusted return (90d)	-0.12	-0.11

Relative strength over 90 days: STOXES outperformed BORDR by 1053.3% — measured on the STOXES/BORDR ratio, so it holds regardless of market direction.

Stoxes →Bordrless →