Index Coop - ETH 2x Flexible Leverage Index (Polygon) vs Bitway

Bitway (BTW) is 4645.2× the size of Index Coop - ETH 2x Flexible Leverage Index (Polygon) (ETH2X-FLI-P) by market capitalisation. Over the past 30 days, BTW is ahead by 52.8 percentage points (ETH2X-FLI-P -7.4% against BTW +45.5%). Their daily returns move barely in opposite directions (correlation -0.12 across 24 shared trading days). BTW has been the more volatile of the two, at 362% annualised against ETH2X-FLI-P's 40%.

Correlation: -0.12
Size ratio: 1 : 4645.2
Ahead over 30 days: BTW

Index Coop - ETH 2x Flexible Leverage Index (Polygon)ETH2X-FLI-P

$5.7700

24h: +4.78%
Market cap: $336,398
Volume 24h: $782
Volatility (ann.): 40%

BitwayBTW

$1.0380

24h: +4.57%
Market cap: $1.56B
Volume 24h: $5.95M
Volatility (ann.): 362%

ETH2X-FLI-P 0.0%Share of the two combined market caps100.0% BTW

Performance

ETH2X-FLI-PBTW

7 days-3.03%-40.12%ETH2X-FLI-P
30 days-7.40%+45.45%BTW

Correlation

-0.12over 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	ETH2X-FLI-P	BTW
Max drawdown (400d)	-13.7%	-60.7%
Risk-adjusted return (90d)	-0.16	0.48

Relative strength over 90 days: ETH2X-FLI-P outperformed BTW by 57.5% — measured on the ETH2X-FLI-P/BTW ratio, so it holds regardless of market direction.

Index Coop - ETH 2x Flexible Leverage Index (Polygon) →Bitway →