ONYX vs Bitcoin
ONYX (ONYX) and Bitcoin (BTC) compared side by side. Their daily returns move barely together (correlation 0.24 across 24 shared trading days). Both have run at a similar volatility, around 42% annualised.
- Correlation
- 0.24
ONYX 0.0%Share of the two combined market caps100.0% BTC
Performance
ONYXBTC
- 7 daysBTC
- 30 days—
- 90 days—
- 1 year—
Correlation
0.24over 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 | ONYX | BTC |
|---|---|---|
| Max drawdown (400d) | -16.3% | -53.0% |
| Risk-adjusted return (90d) | -0.37 | 0.51 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed ONYX by 5.8% — measured on the ONYX/BTC ratio, so it holds regardless of market direction.