USDC Bull (BULL) and SolonPad (SOLON) compared side by side. Their daily returns move barely in opposite directions (correlation -0.05 across 22 shared trading days). SOLON has been the more volatile of the two, at 454% annualised against BULL's 103%.
BULLSOLON
-0.05over 22 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 | BULL | SOLON |
|---|---|---|
| Max drawdown (400d) | -36.3% | -77.8% |
| Risk-adjusted return (90d) | -0.29 | -0.13 |
Relative strength over 90 days: BULL outperformed SOLON by 68.8% — measured on the BULL/SOLON ratio, so it holds regardless of market direction.