Frax (prev. FXS) vs Bitway

Bitway (BTW) is 70.7× the size of Frax (prev. FXS) (FRAX) by market capitalisation. Over the past 30 days, BTW is ahead by 89.8 percentage points (FRAX -16.5% against BTW +73.4%). Their daily returns move barely together (correlation 0.14 across 35 shared trading days). BTW has been the more volatile of the two, at 365% annualised against FRAX's 109%.

Correlation: 0.14
Size ratio: 1 : 70.7
Ahead over 30 days: BTW

Frax (prev. FXS)FRAX

$0.239771

24h: -0.37%
Market cap: $22.44M
Volume 24h: $327,167
Volatility (ann.): 109%

BitwayBTW

$1.0530

24h: +4.19%
Market cap: $1.59B
Volume 24h: $6.47M
Volatility (ann.): 365%

FRAX 1.4%Share of the two combined market caps98.6% BTW

Performance

FRAXBTW

7 days-6.41%-44.93%FRAX
30 days-16.46%+73.36%BTW

Correlation

0.14over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	FRAX	BTW
Max drawdown (400d)	-23.4%	-60.7%
Risk-adjusted return (90d)	-0.20	0.43

Relative strength over 90 days: BTW outperformed FRAX by 67.5% — measured on the FRAX/BTW ratio, so it holds regardless of market direction.

Frax (prev. FXS) →Bitway →