Yes you are correct, but when discussing the 2, BC is referred to as external ballistics and SD is referenced as a way to summise if a bullet will penetrate, which is terminal ballistics.
I stand by my statement.
Cheers.
gun)
I was not disagreeing with you, I just wanted to point out that SD and BC are not independent of each other when referring to external ballistics.
This whole conversation is dependent on what kind of efficiency the OP was referring to.
Most of the time a cartridges efficiency is referring to ballistic efficiency which is a matter of internal ballistics and is a figure based on factors like amount/type of powder, bullet weight, bullet start pressure, muzzle energy, etc.
Once the bullet leaves the barrel, it is no longer a matter of the cartridge's efficiency, but of a bullet's weight, SD, form factor, etc. So in other words, the bullets "efficiency".