PINGPONG vs Bitway

Bitway (BTW) is 391854.5× the size of PINGPONG (PINGPONG) by market capitalisation. Over the past 30 days, BTW is ahead by 80.0 percentage points (PINGPONG -34.6% against BTW +45.5%). Their daily returns move loosely in opposite directions (correlation -0.49 across 21 shared trading days). PINGPONG has been the more volatile of the two, at 550% annualised against BTW's 362%.

Correlation: -0.49
Size ratio: 1 : 391854.5
Ahead over 30 days: BTW

PINGPONGPINGPONG

$1.662e-5

24h: —
Market cap: $3,939
Volume 24h: —
Volatility (ann.): 550%

BitwayBTW

$1.0250

24h: -0.15%
Market cap: $1.54B
Volume 24h: $6.28M
Volatility (ann.): 362%

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

Performance

PINGPONGBTW

7 days-0.54%-40.12%PINGPONG
30 days-34.56%+45.45%BTW

Correlation

-0.49over 21 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	PINGPONG	BTW
Max drawdown (400d)	-64.2%	-60.7%
Risk-adjusted return (90d)	-0.06	0.48

Relative strength over 90 days: PINGPONG outperformed BTW by 20.8% — measured on the PINGPONG/BTW ratio, so it holds regardless of market direction.

PINGPONG →Bitway →