Magpie vs Bitway

Bitway (BTW) is 1994.6× the size of Magpie (MGP) by market capitalisation. Over the past 30 days, BTW is ahead by 95.3 percentage points (MGP -21.9% against BTW +73.4%). Their daily returns move barely in opposite directions (correlation -0.04 across 28 shared trading days). BTW has been the more volatile of the two, at 365% annualised against MGP's 106%.

Correlation: -0.04
Size ratio: 1 : 1994.6
Ahead over 30 days: BTW

MagpieMGP

$0.001439

24h: -0.71%
Market cap: $827,567
Volume 24h: $263
Volatility (ann.): 106%

BitwayBTW

$1.0970

24h: +3.84%
Market cap: $1.65B
Volume 24h: $6.94M
Volatility (ann.): 365%

MGP 0.1%Share of the two combined market caps99.9% BTW

Performance

MGPBTW

7 days-5.53%-44.93%MGP
30 days-21.91%+73.36%BTW

Correlation

-0.04over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0490d: 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	MGP	BTW
Max drawdown (400d)	-32.2%	-60.7%
Risk-adjusted return (90d)	-0.20	0.43

Relative strength over 90 days: BTW outperformed MGP by 66.8% — measured on the MGP/BTW ratio, so it holds regardless of market direction.

Magpie →Bitway →