Jito (JTO) is 6.4× the size of Bifrost (BFC) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 53 shared trading days). BFC has been the more volatile of the two, at 719% annualised against JTO's 127%.
BFCJTO
-0.03over 53 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 | BFC | JTO |
|---|---|---|
| Max drawdown (400d) | -47.2% | -85.9% |
| Risk-adjusted return (90d) | 0.18 | -0.30 |
| Best 30 days (past year) | — | +109.1% |
| Worst 30 days (past year) | — | -51.6% |
Relative strength over 90 days: BFC outperformed JTO by 325.4% — measured on the BFC/JTO ratio, so it holds regardless of market direction.