MemeCore (M) is 164.7× the size of Bitlayer (BTR) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.16 across 43 shared trading days). BTR has been the more volatile of the two, at 575% annualised against M's 108%.
BTRM
-0.16over 43 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 | BTR | M |
|---|---|---|
| Max drawdown (400d) | -77.1% | -41.1% |
| Risk-adjusted return (90d) | 0.24 | -0.23 |
Relative strength over 90 days: BTR outperformed M by 94.1% — measured on the BTR/M ratio, so it holds regardless of market direction.