Beldex (BDX) is 3941.1× the size of SwiftCash (SWIFT) by market capitalisation. Their daily returns move closely together (correlation 0.75 across 41 shared trading days). BDX has been the more volatile of the two, at 64% annualised against SWIFT's 42%.
SWIFTBDX
0.75over 41 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 | SWIFT | BDX |
|---|---|---|
| Max drawdown (400d) | -27.1% | -20.8% |
| Risk-adjusted return (90d) | -0.18 | -0.15 |
Relative strength over 90 days: BDX outperformed SWIFT by 2.2% — measured on the SWIFT/BDX ratio, so it holds regardless of market direction.