Hedgehood vs Bitway

Bitway (BTW) is 2118.0× the size of Hedgehood (HEDGE) by market capitalisation. Over the past 30 days, BTW is ahead by 28.5 percentage points (HEDGE +16.9% against BTW +45.5%). Their daily returns move barely in opposite directions (correlation -0.16 across 24 shared trading days). HEDGE has been the more volatile of the two, at 421% annualised against BTW's 362%.

Correlation: -0.16
Size ratio: 1 : 2118.0
Ahead over 30 days: BTW

HedgehoodHEDGE

$0.000758

24h: +2.87%
Market cap: $714,036
Volume 24h: $82,590
Volatility (ann.): 421%

BitwayBTW

$1.0040

24h: +2.69%
Market cap: $1.51B
Volume 24h: $5.44M
Volatility (ann.): 362%

HEDGE 0.0%Share of the two combined market caps100.0% BTW

Performance

HEDGEBTW

7 days+10.84%-40.12%HEDGE
30 days+16.92%+45.45%BTW

Correlation

-0.16over 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	HEDGE	BTW
Max drawdown (400d)	-48.3%	-60.7%
Risk-adjusted return (90d)	0.01	0.48

Relative strength over 90 days: HEDGE outperformed BTW by 97.1% — measured on the HEDGE/BTW ratio, so it holds regardless of market direction.

Hedgehood →Bitway →