Circuits of Value vs Bitway

Bitway (BTW) is 38172.7× the size of Circuits of Value (COVAL) by market capitalisation. Over the past 30 days, BTW is ahead by 86.5 percentage points (COVAL -18.1% against BTW +68.4%). Their daily returns move barely in opposite directions (correlation -0.20 across 25 shared trading days). BTW has been the more volatile of the two, at 359% annualised against COVAL's 131%.

Correlation: -0.20
Size ratio: 1 : 38172.7
Ahead over 30 days: BTW

Circuits of ValueCOVAL

$2.453e-5

24h: —
Market cap: $43,788
Volume 24h: —
Volatility (ann.): 131%

BitwayBTW

$1.1100

24h: +7.21%
Market cap: $1.67B
Volume 24h: $5.56M
Volatility (ann.): 359%

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

Performance

COVALBTW

7 days-12.96%-31.25%COVAL
30 days-18.09%+68.43%BTW

Correlation

-0.20over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2090d: 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	COVAL	BTW
Max drawdown (400d)	-26.3%	-60.7%
Risk-adjusted return (90d)	-0.06	0.54

Relative strength over 90 days: COVAL outperformed BTW by 40.6% — measured on the COVAL/BTW ratio, so it holds regardless of market direction.

Circuits of Value →Bitway →