Fluid vs Bitway

Bitway (BTW) is 9.5× the size of Fluid (FLUID) by market capitalisation. Over the past 30 days, FLUID is ahead by 4.4 percentage points (FLUID +77.8% against BTW +73.4%). Their daily returns move closely together (correlation 0.72 across 54 shared trading days). BTW has been the more volatile of the two, at 365% annualised against FLUID's 225%.

Correlation: 0.72
Size ratio: 1 : 9.5
Ahead over 30 days: FLUID

FluidFLUID

$2.1800

24h: +12.75%
Market cap: $182.85M
Volume 24h: $6.76M
Volatility (ann.): 225%

BitwayBTW

$1.1500

24h: +12.15%
Market cap: $1.74B
Volume 24h: $6.98M
Volatility (ann.): 365%

FLUID 9.5%Share of the two combined market caps90.5% BTW

Performance

FLUIDBTW

7 days-5.45%-44.93%FLUID
30 days+77.78%+73.36%FLUID

Correlation

0.72over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7590d: 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	FLUID	BTW
Max drawdown (400d)	-27.4%	-60.7%
Risk-adjusted return (90d)	0.37	0.43

Relative strength over 90 days: BTW outperformed FLUID by 20.4% — measured on the FLUID/BTW ratio, so it holds regardless of market direction.

Fluid →Bitway →