Wrapped BMX Liquidity Token (WBLT) is 24.9× the size of Wrapped LIBERTAS OMNIBUS (LIBERTAS) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 24 shared trading days). LIBERTAS has been the more volatile of the two, at 123% annualised against WBLT's 26%.
$0.529906
LIBERTASWBLT
0.19over 24 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 | LIBERTAS | WBLT |
|---|---|---|
| Max drawdown (400d) | -33.1% | -6.4% |
| Risk-adjusted return (90d) | -0.27 | -0.10 |
Relative strength over 90 days: WBLT outperformed LIBERTAS by 30.1% — measured on the LIBERTAS/WBLT ratio, so it holds regardless of market direction.