Nexus Mutual vs Bitway

Bitway (BTW) is 16.3× the size of Nexus Mutual (NXM) by market capitalisation. Over the past 30 days, BTW is ahead by 82.1 percentage points (NXM -8.8% against BTW +73.4%). Their daily returns move barely in opposite directions (correlation -0.08 across 54 shared trading days). BTW has been the more volatile of the two, at 365% annualised against NXM's 53%.

Correlation: -0.08
Size ratio: 1 : 16.3
Ahead over 30 days: BTW

Nexus MutualNXM

$61.4600

24h: +3.89%
Market cap: $95.25M
Volume 24h: —
Volatility (ann.): 53%

BitwayBTW

$1.0310

24h: +6.87%
Market cap: $1.55B
Volume 24h: $6.35M
Volatility (ann.): 365%

NXM 5.8%Share of the two combined market caps94.2% BTW

Performance

NXMBTW

7 days-1.00%-44.93%NXM
30 days-8.76%+73.36%BTW

Correlation

-0.08over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0790d: 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	NXM	BTW
Max drawdown (400d)	-17.2%	-60.7%
Risk-adjusted return (90d)	0.28	0.43

Relative strength over 90 days: BTW outperformed NXM by 49.9% — measured on the NXM/BTW ratio, so it holds regardless of market direction.

Nexus Mutual →Bitway →