Bitcoin (BTC) is 60086969.6× the size of Bumshaft (BUMSHAFT) by market capitalisation. Their daily returns move closely together (correlation 0.84 across 72 shared trading days). BUMSHAFT has been the more volatile of the two, at 138% annualised against BTC's 44%.
BUMSHAFTBTC
0.84over 72 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 | BUMSHAFT | BTC |
|---|---|---|
| Max drawdown (400d) | -69.4% | -53.0% |
| Risk-adjusted return (90d) | -0.36 | 0.42 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed BUMSHAFT by 25.8% — measured on the BUMSHAFT/BTC ratio, so it holds regardless of market direction.