Bitcoin (BTC) is 349063.1× the size of MIL (MIL) by market capitalisation. Their daily returns move closely together (correlation 0.60 across 33 shared trading days). MIL has been the more volatile of the two, at 346% annualised against BTC's 44%.
MILBTC
0.60over 33 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 | MIL | BTC |
|---|---|---|
| Max drawdown (400d) | -99.8% | -53.0% |
| Risk-adjusted return (90d) | -0.29 | 0.51 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed MIL by 99.8% — measured on the MIL/BTC ratio, so it holds regardless of market direction.