Bitway (BTW) is 410.2× the size of Longbow (BOW) by market capitalisation. Over the past 30 days, BTW is ahead by 113.7 percentage points (BOW -40.3% against BTW +73.4%). Their daily returns move barely together (correlation 0.04 across 32 shared trading days). Both have run at a similar volatility, around 388% annualised.
BOWBTW
0.04over 32 shared trading days
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.
| Metric | BOW | BTW |
|---|---|---|
| Max drawdown (400d) | -67.7% | -60.7% |
| Risk-adjusted return (90d) | -0.01 | 0.43 |
Relative strength over 90 days: BTW outperformed BOW by 55.2% — measured on the BOW/BTW ratio, so it holds regardless of market direction.