Arcus BTC (3x Long) vs BitcoinX

BitcoinX (BTCX) is 4.8× the size of Arcus BTC (3x Long) (PBTC3X) by market capitalisation. Over the past 30 days, PBTC3X is ahead by 40.6 percentage points (PBTC3X -18.4% against BTCX -59.1%). Their daily returns move barely together (correlation 0.01 across 26 shared trading days). BTCX has been the more volatile of the two, at 165% annualised against PBTC3X's 83%.

Correlation: 0.01
Size ratio: 1 : 4.8
Ahead over 30 days: PBTC3X

Arcus BTC (3x Long)PBTC3X

$170.8700

24h: +1.19%
Market cap: $77,994
Volume 24h: $2,646
Volatility (ann.): 83%

BitcoinXBTCX

$0.000377

24h: -10.13%
Market cap: $377,082
Volume 24h: $199
Volatility (ann.): 165%

PBTC3X 17.1%Share of the two combined market caps82.9% BTCX

Performance

PBTC3XBTCX

7 days-9.45%+29.58%BTCX
30 days-18.44%-59.09%PBTC3X

Correlation

0.01over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	PBTC3X	BTCX
Max drawdown (400d)	-21.2%	-70.1%
Risk-adjusted return (90d)	-0.22	-0.36

Relative strength over 90 days: PBTC3X outperformed BTCX by 99.3% — measured on the PBTC3X/BTCX ratio, so it holds regardless of market direction.

Arcus BTC (3x Long) →BitcoinX →