Beldex (BDX) is 2178.0× the size of WeatherXM (WXM) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 39 shared trading days). WXM has been the more volatile of the two, at 199% annualised against BDX's 64%.
WXMBDX
0.24over 39 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 | WXM | BDX |
|---|---|---|
| Max drawdown (400d) | -75.8% | -20.8% |
| Risk-adjusted return (90d) | 0.03 | -0.15 |
Relative strength over 90 days: WXM outperformed BDX by 26.8% — measured on the WXM/BDX ratio, so it holds regardless of market direction.