Bitway (BTW) is 1124.7× the size of Mancer (MANCER) by market capitalisation. Over the past 30 days, BTW is ahead by 101.2 percentage points (MANCER -27.9% against BTW +73.4%). Their daily returns move barely together (correlation 0.23 across 30 shared trading days). Both have run at a similar volatility, around 370% annualised.
MANCERBTW
0.23over 30 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 | MANCER | BTW |
|---|---|---|
| Max drawdown (400d) | -80.2% | -60.7% |
| Risk-adjusted return (90d) | -0.19 | 0.43 |
Relative strength over 90 days: BTW outperformed MANCER by 87.1% — measured on the MANCER/BTW ratio, so it holds regardless of market direction.