Bitget Wrapped BTC vs WrappedM by M0

Bitget Wrapped BTC (BGBTC) is 1.4× the size of WrappedM by M0 (WM) by market capitalisation. Over the past 30 days, BGBTC is ahead by 0.9 percentage points (BGBTC +0.8% against WM -0.1%). Their daily returns move loosely together (correlation 0.42 across 56 shared trading days). BGBTC has been the more volatile of the two, at 48% annualised against WM's 0%.

Correlation: 0.42
Size ratio: 1.4×
Ahead over 30 days: BGBTC

Bitget Wrapped BTCBGBTC

$77,997

24h: +1.58%
Market cap: $107.95M
Volume 24h: $172,694
Volatility (ann.): 48%

WrappedM by M0WM

$0.998696

24h: +0.02%
Market cap: $75.08M
Volume 24h: $127
Volatility (ann.): 0%

BGBTC 59.0%Share of the two combined market caps41.0% WM

Performance

BGBTCWM

7 days-3.64%+0.03%WM
30 days+0.77%-0.08%BGBTC

Correlation

0.42over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4090d: 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	BGBTC	WM
Max drawdown (400d)	-9.1%	-0.1%
Risk-adjusted return (90d)	0.42	-0.10

Relative strength over 90 days: BGBTC outperformed WM by 20.6% — measured on the BGBTC/WM ratio, so it holds regardless of market direction.

Bitget Wrapped BTC →WrappedM by M0 →