Bittensor (TAO) is 133016.1× the size of Eve AI (EVEAI) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 126 shared trading days). EVEAI has been the more volatile of the two, at 139% annualised against TAO's 98%.
EVEAITAO
0.36over 126 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 | EVEAI | TAO |
|---|---|---|
| Max drawdown (400d) | -83.9% | -70.7% |
| Risk-adjusted return (90d) | -0.30 | 0.13 |
| Best 30 days (past year) | — | +104.1% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: TAO outperformed EVEAI by 38.5% — measured on the EVEAI/TAO ratio, so it holds regardless of market direction.