Note Systems vs Bitway

Bitway (BTW) is 986.0× the size of Note Systems (NOTE) by market capitalisation. Over the past 30 days, BTW is ahead by 131.8 percentage points (NOTE -58.5% against BTW +73.4%). Their daily returns move loosely together (correlation 0.50 across 23 shared trading days). BTW has been the more volatile of the two, at 365% annualised against NOTE's 250%.

Correlation: 0.50
Size ratio: 1 : 986.0
Ahead over 30 days: BTW

Note SystemsNOTE

$0.026800

24h: -1.37%
Market cap: $1.61M
Volume 24h: $25,304
Volatility (ann.): 250%

BitwayBTW

$1.0530

24h: +4.19%
Market cap: $1.59B
Volume 24h: $6.47M
Volatility (ann.): 365%

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

Performance

NOTEBTW

7 days-39.87%-44.93%NOTE
30 days-58.46%+73.36%BTW

Correlation

0.50over 23 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	NOTE	BTW
Max drawdown (400d)	-71.6%	-60.7%
Risk-adjusted return (90d)	-0.29	0.43

Relative strength over 90 days: BTW outperformed NOTE by 19.6% — measured on the NOTE/BTW ratio, so it holds regardless of market direction.

Note Systems →Bitway →