Super El Niño (ELNIÑO) and Bordrless (BORDR) compared side by side. Over the past 30 days, ELNIÑO is ahead by 44.9 percentage points (ELNIÑO -53.8% against BORDR -98.7%). Their daily returns move barely together (correlation 0.18 across 34 shared trading days). BORDR has been the more volatile of the two, at 959% annualised against ELNIÑO's 279%.
ELNIÑOBORDR
0.18over 34 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 | ELNIÑO | BORDR |
|---|---|---|
| Max drawdown (400d) | -61.3% | -99.8% |
| Risk-adjusted return (90d) | -0.20 | -0.10 |
Relative strength over 90 days: ELNIÑO outperformed BORDR by 1817.7% — measured on the ELNIÑO/BORDR ratio, so it holds regardless of market direction.