Hyperwave vs Bitway

Bitway (BTW) is 2572.0× the size of Hyperwave (HWAVE) by market capitalisation. Over the past 30 days, HWAVE is ahead by 280.0 percentage points (HWAVE +325.4% against BTW +45.5%). Their daily returns move closely together (correlation 0.67 across 28 shared trading days). HWAVE has been the more volatile of the two, at 770% annualised against BTW's 362%.

Correlation: 0.67
Size ratio: 1 : 2572.0
Ahead over 30 days: HWAVE

HyperwaveHWAVE

$0.002303

24h: +2.36%
Market cap: $602,073
Volume 24h: $9,410
Volatility (ann.): 770%

BitwayBTW

$1.0280

24h: -5.58%
Market cap: $1.55B
Volume 24h: $3.55M
Volatility (ann.): 362%

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

Performance

HWAVEBTW

7 days-19.83%-40.12%HWAVE
30 days+325.44%+45.45%HWAVE

Correlation

0.67over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6790d: 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	HWAVE	BTW
Max drawdown (400d)	-50.7%	-60.7%
Risk-adjusted return (90d)	0.40	0.48

Relative strength over 90 days: HWAVE outperformed BTW by 62.1% — measured on the HWAVE/BTW ratio, so it holds regardless of market direction.

Hyperwave →Bitway →