Parallel Governance vs Bitway

Bitway (BTW) is 1336.0× the size of Parallel Governance (PRL) by market capitalisation. Over the past 30 days, BTW is ahead by 88.2 percentage points (PRL -14.9% against BTW +73.4%). Their daily returns move barely in opposite directions (correlation -0.20 across 20 shared trading days). BTW has been the more volatile of the two, at 365% annualised against PRL's 59%.

Correlation: -0.20
Size ratio: 1 : 1336.0
Ahead over 30 days: BTW

Parallel GovernancePRL

$0.002667

24h: +2.40%
Market cap: $1.19M
Volume 24h: $496
Volatility (ann.): 59%

BitwayBTW

$1.0580

24h: +2.58%
Market cap: $1.59B
Volume 24h: $6.53M
Volatility (ann.): 365%

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

Performance

PRLBTW

7 days+3.90%-44.93%PRL
30 days-14.87%+73.36%BTW

Correlation

-0.20over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	PRL	BTW
Max drawdown (400d)	-22.7%	-60.7%
Risk-adjusted return (90d)	-0.25	0.43

Relative strength over 90 days: PRL outperformed BTW by 61.8% — measured on the PRL/BTW ratio, so it holds regardless of market direction.

Parallel Governance →Bitway →