Arcus BTC (3x Short) vs BitcoinX

BitcoinX (BTCX) is 11.7× the size of Arcus BTC (3x Short) (SBTC3X) by market capitalisation. Over the past 30 days, SBTC3X is ahead by 70.0 percentage points (SBTC3X +10.9% against BTCX -59.1%). Their daily returns move barely together (correlation 0.04 across 25 shared trading days). BTCX has been the more volatile of the two, at 165% annualised against SBTC3X's 98%.

Correlation: 0.04
Size ratio: 1 : 11.7
Ahead over 30 days: SBTC3X

Arcus BTC (3x Short)SBTC3X

$89.9100

24h: -3.36%
Market cap: $32,208
Volume 24h: $1,775
Volatility (ann.): 98%

BitcoinXBTCX

$0.000377

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

SBTC3X 7.9%Share of the two combined market caps92.1% BTCX

Performance

SBTC3XBTCX

7 days+6.84%+29.58%BTCX
30 days+10.87%-59.09%SBTC3X

Correlation

0.04over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: 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	SBTC3X	BTCX
Max drawdown (400d)	-12.2%	-70.1%
Risk-adjusted return (90d)	0.11	-0.36

Relative strength over 90 days: SBTC3X outperformed BTCX by 171.0% — measured on the SBTC3X/BTCX ratio, so it holds regardless of market direction.

Arcus BTC (3x Short) →BitcoinX →