Open Stablecoin Index vs Bitway

Bitway (BTW) is 8233.8× the size of Open Stablecoin Index (OPEN) by market capitalisation. Over the past 30 days, BTW is ahead by 52.5 percentage points (OPEN -7.1% against BTW +45.5%). Their daily returns move loosely together (correlation 0.39 across 27 shared trading days). BTW has been the more volatile of the two, at 362% annualised against OPEN's 84%.

Correlation: 0.39
Size ratio: 1 : 8233.8
Ahead over 30 days: BTW

Open Stablecoin IndexOPEN

$0.446214

24h: +5.06%
Market cap: $200,594
Volume 24h: $14,403
Volatility (ann.): 84%

BitwayBTW

$1.0970

24h: +3.29%
Market cap: $1.65B
Volume 24h: $4.73M
Volatility (ann.): 362%

OPEN 0.0%Share of the two combined market caps100.0% BTW

Performance

OPENBTW

7 days-3.96%-40.12%OPEN
30 days-7.07%+45.45%BTW

Correlation

0.39over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	OPEN	BTW
Max drawdown (400d)	-23.6%	-60.7%
Risk-adjusted return (90d)	-0.03	0.48

Relative strength over 90 days: BTW outperformed OPEN by 59.5% — measured on the OPEN/BTW ratio, so it holds regardless of market direction.

Open Stablecoin Index →Bitway →