币安人生 (BinanceLife) (币安人生) is 9070.4× the size of Top Hat (HAT) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.09 across 35 shared trading days). 币安人生 has been the more volatile of the two, at 171% annualised against HAT's 43%.
HAT币安人生
-0.09over 35 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 | HAT | 币安人生 |
|---|---|---|
| Max drawdown (400d) | -30.9% | -84.5% |
| Risk-adjusted return (90d) | -0.69 | -0.07 |
Relative strength over 90 days: 币安人生 outperformed HAT by 31.8% — measured on the HAT/币安人生 ratio, so it holds regardless of market direction.