Bitcoin (BTC) is 629255.9× the size of Data Ownership Protocol 2 (DOP2) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.12 across 38 shared trading days). DOP2 has been the more volatile of the two, at 2379% annualised against BTC's 44%.
DOP2BTC
-0.12over 38 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 | DOP2 | BTC |
|---|---|---|
| Max drawdown (400d) | -88.4% | -53.0% |
| Risk-adjusted return (90d) | 0.01 | 0.51 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: DOP2 outperformed BTC by 20.3% — measured on the DOP2/BTC ratio, so it holds regardless of market direction.