BNB (BNB) is 1433.5× the size of Tesla xStock (TSLAX) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 31 shared trading days). Both have run at a similar volatility, around 50% annualised.
| Period | TSLAX | BNB | Ahead |
|---|---|---|---|
| 7 days | +0.01% | +4.73% | BNB |
| 30 days | +4.17% | +16.37% | BNB |
| 90 days | — | +30.43% | — |
| 1 year | — | -22.57% | — |
| Metric | TSLAX | BNB |
|---|---|---|
| Max drawdown (400d) | -6.0% | -58.2% |
| Risk-adjusted return (90d) | 0.09 | 0.88 |
| Best 30 days (past year) | — | +29.4% |
| Worst 30 days (past year) | — | -34.9% |
Relative strength over 90 days: BNB outperformed TSLAX by 14.1% — measured on the TSLAX/BNB ratio, so it holds regardless of market direction.
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.