Fartcoin (FARTCOIN) is 5.1× the size of Moonbirds (BIRB) by market capitalisation. Their daily returns move barely together (correlation 0.20 across 46 shared trading days). Both have run at a similar volatility, around 164% annualised.
BIRBFARTCOIN
0.20over 46 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 | BIRB | FARTCOIN |
|---|---|---|
| Max drawdown (400d) | -48.8% | -46.0% |
| Risk-adjusted return (90d) | 0.30 | -0.08 |
Relative strength over 90 days: BIRB outperformed FARTCOIN by 86.7% — measured on the BIRB/FARTCOIN ratio, so it holds regardless of market direction.