Bitcoin Treasury Machine vs Burncoin

Burncoin (BURN) is 25.9× the size of Bitcoin Treasury Machine (BTM) by market capitalisation. Over the past 30 days, BTM is ahead by 13.2 percentage points (BTM -21.4% against BURN -34.6%). Their daily returns move loosely together (correlation 0.37 across 28 shared trading days). BURN has been the more volatile of the two, at 129% annualised against BTM's 30%.

Correlation: 0.37
Size ratio: 1 : 25.9
Ahead over 30 days: BTM

Bitcoin Treasury MachineBTM

$5.610e-6

24h: —
Market cap: $5,594
Volume 24h: —
Volatility (ann.): 30%

BurncoinBURN

$0.007334

24h: -6.08%
Market cap: $144,905
Volume 24h: $242
Volatility (ann.): 129%

BTM 3.7%Share of the two combined market caps96.3% BURN

Performance

BTMBURN

7 days-8.98%-15.33%BTM
30 days-21.37%-34.57%BTM

Correlation

0.37over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3790d: 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	BTM	BURN
Max drawdown (400d)	-22.1%	-36.7%
Risk-adjusted return (90d)	-0.71	-0.13

Relative strength over 90 days: BURN outperformed BTM by 3.9% — measured on the BTM/BURN ratio, so it holds regardless of market direction.

Bitcoin Treasury Machine →Burncoin →