Bitcoin (BTC) is 5979.0× the size of Kite (KITE) by market capitalisation. Over the past 1 year, KITE is ahead by 78.2 percentage points (KITE +48.4% against BTC -29.7%). Their daily returns move barely together (correlation 0.29 across 321 shared trading days). KITE has been the more volatile of the two, at 124% annualised against BTC's 44%.
| Period | KITE | BTC | Ahead |
|---|---|---|---|
| 7 days | +6.39% | +5.14% | KITE |
| 30 days | +16.41% | +11.26% | KITE |
| 90 days | -29.94% | +28.33% | BTC |
| 1 year | +48.45% | -29.73% | KITE |
| Metric | KITE | BTC |
|---|---|---|
| Max drawdown (400d) | -69.5% | -53.0% |
| Risk-adjusted return (90d) | -0.33 | 0.74 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed KITE by 45.4% — measured on the KITE/BTC ratio, so it holds regardless of market direction.
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.