Beldex (BDX) is 31342.7× the size of Zoof Wallet (ZOOF) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 35 shared trading days). ZOOF has been the more volatile of the two, at 177% annualised against BDX's 64%.
ZOOFBDX
0.45over 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 | ZOOF | BDX |
|---|---|---|
| Max drawdown (400d) | -90.3% | -20.8% |
| Risk-adjusted return (90d) | -0.20 | -0.17 |
Relative strength over 90 days: BDX outperformed ZOOF by 1.6% — measured on the ZOOF/BDX ratio, so it holds regardless of market direction.