BNB (BNB) is 3372.4× the size of Terra (LUNA) by market capitalisation. Over the past 1 year, BNB is ahead by 21.9 percentage points (LUNA -51.6% against BNB -29.7%). Their daily returns move loosely together (correlation 0.43 across 399 shared trading days). LUNA has been the more volatile of the two, at 104% annualised against BNB's 51%.
LUNABNB
0.43over 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 | LUNA | BNB |
|---|---|---|
| Max drawdown (400d) | -80.3% | -58.2% |
| Risk-adjusted return (90d) | -0.05 | 0.45 |
| Best 30 days (past year) | +113.8% | +29.4% |
| Worst 30 days (past year) | -53.5% | -34.9% |
Relative strength over 90 days: BNB outperformed LUNA by 18.3% — measured on the LUNA/BNB ratio, so it holds regardless of market direction.