Holo (HOT) is 28.2× the size of Swarm (BZZ) by market capitalisation. Over the past 1 year, HOT is ahead by 59.8 percentage points (BZZ -64.4% against HOT -4.5%). Their daily returns move barely together (correlation 0.30 across 373 shared trading days). BZZ has been the more volatile of the two, at 118% annualised against HOT's 85%.
BZZHOT
0.30over 373 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 | BZZ | HOT |
|---|---|---|
| Max drawdown (400d) | -84.4% | -68.4% |
| Risk-adjusted return (90d) | 0.17 | 0.71 |
| Best 30 days (past year) | +87.7% | +24.0% |
| Worst 30 days (past year) | -51.6% | -36.7% |
Relative strength over 90 days: HOT outperformed BZZ by 25.7% — measured on the BZZ/HOT ratio, so it holds regardless of market direction.