Bittensor (TAO) is 3.9× the size of Filecoin (FIL) by market capitalisation. Over the past 1 year, TAO is ahead by 13.8 percentage points (TAO -43.0% against FIL -56.8%). Their daily returns move loosely together (correlation 0.44 across 399 shared trading days). FIL has been the more volatile of the two, at 125% annualised against TAO's 98%.
TAOFIL
0.44over 399 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 | TAO | FIL |
|---|---|---|
| Max drawdown (400d) | -70.7% | -81.4% |
| Risk-adjusted return (90d) | 0.11 | 0.14 |
| Best 30 days (past year) | +104.1% | +66.2% |
| Worst 30 days (past year) | -48.1% | -57.1% |
Relative strength over 90 days: FIL outperformed TAO by 4.7% — measured on the TAO/FIL ratio, so it holds regardless of market direction.