Bitcoin (BTC) is 69452006.2× the size of Meter Stable (MTR) by market capitalisation. Over the past 1 year, BTC is ahead by 68.3 percentage points (MTR -95.0% against BTC -26.8%). Their daily returns move barely in opposite directions (correlation -0.03 across 361 shared trading days). MTR has been the more volatile of the two, at 123% annualised against BTC's 44%.
MTRBTC
-0.03over 361 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 | MTR | BTC |
|---|---|---|
| Max drawdown (400d) | -96.9% | -53.0% |
| Risk-adjusted return (90d) | -0.51 | 0.42 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed MTR by 95.8% — measured on the MTR/BTC ratio, so it holds regardless of market direction.