Bitcoin (BTC) is 941665.0× the size of Amazon (bStocks Tokenized Stock) (AMZNB) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 53 shared trading days). Both have run at a similar volatility, around 43% annualised.
| Period | AMZNB | BTC | Ahead |
|---|---|---|---|
| 7 days | -0.90% | +5.14% | BTC |
| 30 days | -2.34% | +11.26% | BTC |
| 90 days | — | +28.33% | — |
| 1 year | — | -29.73% | — |
| Metric | AMZNB | BTC |
|---|---|---|
| Max drawdown (400d) | -11.5% | -53.0% |
| Risk-adjusted return (90d) | 0.25 | 0.74 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed AMZNB by 13.0% — measured on the AMZNB/BTC ratio, so it holds regardless of market direction.
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.