Bankless BED Index vs Bitway

Bitway (BTW) is 3488.5× the size of Bankless BED Index (BED) by market capitalisation. Over the past 30 days, BTW is ahead by 55.1 percentage points (BED -9.7% against BTW +45.5%). Their daily returns move barely together (correlation 0.07 across 24 shared trading days). BTW has been the more volatile of the two, at 362% annualised against BED's 44%.

Correlation: 0.07
Size ratio: 1 : 3488.5
Ahead over 30 days: BTW

Bankless BED IndexBED

$103.8700

24h: +5.66%
Market cap: $442,420
Volume 24h: $3,433
Volatility (ann.): 44%

BitwayBTW

$1.0250

24h: -0.15%
Market cap: $1.54B
Volume 24h: $6.28M
Volatility (ann.): 362%

BED 0.0%Share of the two combined market caps100.0% BTW

Performance

BEDBTW

7 days+0.58%-40.12%BED
30 days-9.69%+45.45%BTW

Correlation

0.07over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	BED	BTW
Max drawdown (400d)	-15.5%	-60.7%
Risk-adjusted return (90d)	-0.17	0.48

Relative strength over 90 days: BED outperformed BTW by 61.7% — measured on the BED/BTW ratio, so it holds regardless of market direction.

Bankless BED Index →Bitway →