Surf Lending vs Bitway

Bitway (BTW) is 1221.5× the size of Surf Lending (SURF) by market capitalisation. Over the past 30 days, BTW is ahead by 73.1 percentage points (SURF +0.3% against BTW +73.4%). Their daily returns move barely together (correlation 0.31 across 20 shared trading days). BTW has been the more volatile of the two, at 365% annualised against SURF's 144%.

Correlation: 0.31
Size ratio: 1 : 1221.5
Ahead over 30 days: BTW

Surf LendingSURF

$0.064307

24h: -1.04%
Market cap: $1.29M
Volume 24h: $1,491
Volatility (ann.): 144%

BitwayBTW

$1.0430

24h: -0.13%
Market cap: $1.57B
Volume 24h: $6.55M
Volatility (ann.): 365%

SURF 0.1%Share of the two combined market caps99.9% BTW

Performance

SURFBTW

7 days-2.36%-44.93%SURF
30 days+0.26%+73.36%BTW

Correlation

0.31over 20 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	SURF	BTW
Max drawdown (400d)	-24.3%	-60.7%
Risk-adjusted return (90d)	0.00	0.43

Relative strength over 90 days: BTW outperformed SURF by 62.3% — measured on the SURF/BTW ratio, so it holds regardless of market direction.

Surf Lending →Bitway →