Bitcoin (BTC) is 37728396.8× the size of 5ire (5IRE) by market capitalisation. Their daily returns move barely together (correlation 0.11 across 27 shared trading days). 5IRE has been the more volatile of the two, at 85% annualised against BTC's 44%.
5IREBTC
0.11over 27 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 | 5IRE | BTC |
|---|---|---|
| Max drawdown (400d) | -20.2% | -53.0% |
| Risk-adjusted return (90d) | -0.18 | 0.63 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed 5IRE by 10.8% — measured on the 5IRE/BTC ratio, so it holds regardless of market direction.