NFTPunk.Finance (NFTPUNK) and Bitway (BTW) compared side by side. Their daily returns move barely together (correlation 0.25 across 20 shared trading days). BTW has been the more volatile of the two, at 362% annualised against NFTPUNK's 38%.
NFTPUNKBTW
0.25over 20 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 | NFTPUNK | BTW |
|---|---|---|
| Max drawdown (400d) | -9.5% | -60.7% |
| Risk-adjusted return (90d) | -0.23 | 0.48 |
Relative strength over 90 days: NFTPUNK outperformed BTW by 56.3% — measured on the NFTPUNK/BTW ratio, so it holds regardless of market direction.