Bittensor (TAO) is 36970.4× the size of Omnia Protocol (OMNIA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 67 shared trading days). OMNIA has been the more volatile of the two, at 2536% annualised against TAO's 97%.
OMNIATAO
-0.06over 67 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 | OMNIA | TAO |
|---|---|---|
| Max drawdown (400d) | -99.7% | -70.7% |
| Risk-adjusted return (90d) | -0.03 | 0.25 |
| Best 30 days (past year) | — | +104.1% |
| Worst 30 days (past year) | — | -48.1% |
Relative strength over 90 days: TAO outperformed OMNIA by 79.0% — measured on the OMNIA/TAO ratio, so it holds regardless of market direction.