CIPHER vs Bitway

Bitway (BTW) is 17680.4× the size of CIPHER (CPR) by market capitalisation. Over the past 30 days, BTW is ahead by 67.3 percentage points (CPR -21.8% against BTW +45.5%). Their daily returns move barely in opposite directions (correlation -0.11 across 23 shared trading days). BTW has been the more volatile of the two, at 362% annualised against CPR's 109%.

Correlation: -0.11
Size ratio: 1 : 17680.4
Ahead over 30 days: BTW

CIPHERCPR

$9.070e-6

24h: +3.93%
Market cap: $88,119
Volume 24h: $93
Volatility (ann.): 109%

BitwayBTW

$1.0350

24h: -4.90%
Market cap: $1.56B
Volume 24h: $5.16M
Volatility (ann.): 362%

CPR 0.0%Share of the two combined market caps100.0% BTW

Performance

CPRBTW

7 days-0.86%-40.12%CPR
30 days-21.83%+45.45%BTW

Correlation

-0.11over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	CPR	BTW
Max drawdown (400d)	-29.1%	-60.7%
Risk-adjusted return (90d)	-0.21	0.48

Relative strength over 90 days: CPR outperformed BTW by 34.8% — measured on the CPR/BTW ratio, so it holds regardless of market direction.

CIPHER →Bitway →