Bitcoin (BTC) is 2014885.3× the size of Areum (AREA) by market capitalisation. Over the past 1 year, AREA is ahead by 14.6 percentage points (AREA -12.7% against BTC -27.3%). Their daily returns move barely together (correlation 0.14 across 363 shared trading days). AREA has been the more volatile of the two, at 172% annualised against BTC's 44%.
AREABTC
0.14over 363 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 | AREA | BTC |
|---|---|---|
| Max drawdown (400d) | -65.9% | -53.0% |
| Risk-adjusted return (90d) | -0.15 | 0.51 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed AREA by 40.5% — measured on the AREA/BTC ratio, so it holds regardless of market direction.