ETHGas vs Bitway

Bitway (BTW) is 39.5× the size of ETHGas (GWEI) by market capitalisation. Over the past 30 days, BTW is ahead by 80.4 percentage points (GWEI -7.0% against BTW +73.4%). Their daily returns move barely together (correlation 0.03 across 48 shared trading days). BTW has been the more volatile of the two, at 365% annualised against GWEI's 116%.

Correlation: 0.03
Size ratio: 1 : 39.5
Ahead over 30 days: BTW

ETHGasGWEI

$0.020676

24h: +1.21%
Market cap: $41.73M
Volume 24h: $2.86M
Volatility (ann.): 116%

BitwayBTW

$1.0940

24h: +21.80%
Market cap: $1.65B
Volume 24h: $7.14M
Volatility (ann.): 365%

GWEI 2.5%Share of the two combined market caps97.5% BTW

Performance

GWEIBTW

7 days-2.39%-44.93%GWEI
30 days-7.03%+73.36%BTW

Correlation

0.03over 48 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0790d: 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	GWEI	BTW
Max drawdown (400d)	-33.2%	-60.7%
Risk-adjusted return (90d)	-0.06	0.43

Relative strength over 90 days: BTW outperformed GWEI by 53.8% — measured on the GWEI/BTW ratio, so it holds regardless of market direction.

ETHGas →Bitway →