Opcode vs Bitway

Bitway (BTW) is 48.1× the size of Opcode (OPCODE) by market capitalisation. Over the past 30 days, BTW is ahead by 75.6 percentage points (OPCODE -2.2% against BTW +73.4%). Their daily returns move loosely in opposite directions (correlation -0.51 across 27 shared trading days). BTW has been the more volatile of the two, at 365% annualised against OPCODE's 7%.

Correlation: -0.51
Size ratio: 1 : 48.1
Ahead over 30 days: BTW

OpcodeOPCODE

$0.035772

24h: +0.00%
Market cap: $35.77M
Volume 24h: —
Volatility (ann.): 7%

BitwayBTW

$1.1400

24h: +16.08%
Market cap: $1.72B
Volume 24h: $6.48M
Volatility (ann.): 365%

OPCODE 2.0%Share of the two combined market caps98.0% BTW

Performance

OPCODEBTW

7 days+0.00%-44.93%OPCODE
30 days-2.25%+73.36%BTW

Correlation

-0.51over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.5190d: 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	OPCODE	BTW
Max drawdown (400d)	-2.3%	-60.7%
Risk-adjusted return (90d)	-0.34	0.43

Relative strength over 90 days: OPCODE outperformed BTW by 32.9% — measured on the OPCODE/BTW ratio, so it holds regardless of market direction.

Opcode →Bitway →