Bitcoin (BTC) is 39248.8× the size of Abey (ABEY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.18 across 43 shared trading days). ABEY has been the more volatile of the two, at 106% annualised against BTC's 44%.
ABEYBTC
-0.18over 43 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 | ABEY | BTC |
|---|---|---|
| Max drawdown (400d) | -4.9% | -53.0% |
| Risk-adjusted return (90d) | 0.61 | 0.51 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: ABEY outperformed BTC by 65.8% — measured on the ABEY/BTC ratio, so it holds regardless of market direction.