Frax Price Index Share vs Bitway

Bitway (BTW) is 610.1× the size of Frax Price Index Share (FPIS) by market capitalisation. Over the past 30 days, BTW is ahead by 80.2 percentage points (FPIS -6.8% against BTW +73.4%). Their daily returns move barely in opposite directions (correlation -0.29 across 24 shared trading days). BTW has been the more volatile of the two, at 365% annualised against FPIS's 16%.

Correlation: -0.29
Size ratio: 1 : 610.1
Ahead over 30 days: BTW

Frax Price Index ShareFPIS

$0.090096

24h: +0.57%
Market cap: $2.61M
Volume 24h: $18
Volatility (ann.): 16%

BitwayBTW

$1.0550

24h: +1.72%
Market cap: $1.59B
Volume 24h: $6.45M
Volatility (ann.): 365%

FPIS 0.2%Share of the two combined market caps99.8% BTW

Performance

FPISBTW

7 days-1.84%-44.93%FPIS
30 days-6.81%+73.36%BTW

Correlation

-0.29over 24 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	FPIS	BTW
Max drawdown (400d)	-8.0%	-60.7%
Risk-adjusted return (90d)	-0.40	0.43

Relative strength over 90 days: BTW outperformed FPIS by 2.6% — measured on the FPIS/BTW ratio, so it holds regardless of market direction.

Frax Price Index Share →Bitway →