Bittensor (TAO) is 208.7× the size of MESSIER (M87) by market capitalisation. Over the past 1 year, TAO is ahead by 9.0 percentage points (M87 -60.6% against TAO -51.6%). Their daily returns move loosely together (correlation 0.44 across 373 shared trading days). M87 has been the more volatile of the two, at 138% annualised against TAO's 97%.
M87TAO
0.44over 373 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 | M87 | TAO |
|---|---|---|
| Max drawdown (400d) | -90.2% | -70.7% |
| Risk-adjusted return (90d) | 0.98 | 0.16 |
| Best 30 days (past year) | +387.4% | +104.1% |
| Worst 30 days (past year) | -63.7% | -48.1% |
Relative strength over 90 days: M87 outperformed TAO by 163.1% — measured on the M87/TAO ratio, so it holds regardless of market direction.