Bittensor (TAO) is 149.0× the size of Forta (FORT) by market capitalisation. Over the past 1 year, FORT is ahead by 11.0 percentage points (FORT -40.6% against TAO -51.6%). Their daily returns move barely together (correlation 0.18 across 373 shared trading days). FORT has been the more volatile of the two, at 135% annualised against TAO's 97%.
FORTTAO
0.18over 373 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 | FORT | TAO |
|---|---|---|
| Max drawdown (400d) | -78.7% | -70.7% |
| Risk-adjusted return (90d) | 0.80 | 0.16 |
| Best 30 days (past year) | +127.2% | +104.1% |
| Worst 30 days (past year) | -47.9% | -48.1% |
Relative strength over 90 days: FORT outperformed TAO by 116.7% — measured on the FORT/TAO ratio, so it holds regardless of market direction.