Artificial Superintelligence Alliance (FET) is 141487.3× the size of Byte (BYTE) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 25 shared trading days). Both have run at a similar volatility, around 122% annualised.
$0.179600
BYTEFET
-0.15over 25 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 | BYTE | FET |
|---|---|---|
| Max drawdown (400d) | -47.9% | -80.0% |
| Risk-adjusted return (90d) | -0.31 | 0.31 |
| Best 30 days (past year) | — | +77.4% |
| Worst 30 days (past year) | — | -49.9% |
Relative strength over 90 days: FET outperformed BYTE by 21.0% — measured on the BYTE/FET ratio, so it holds regardless of market direction.