Pyth USDC vs Bitway

Bitway (BTW) is 1916.6× the size of Pyth USDC (PYTHUSDC) by market capitalisation. Over the past 30 days, BTW is ahead by 73.3 percentage points (PYTHUSDC +0.1% against BTW +73.4%). Their daily returns move barely in opposite directions (correlation -0.17 across 20 shared trading days). BTW has been the more volatile of the two, at 365% annualised against PYTHUSDC's 2%.

Correlation: -0.17
Size ratio: 1 : 1916.6
Ahead over 30 days: BTW

Pyth USDCPYTHUSDC

$1.0730

24h: +0.01%
Market cap: $855,295
Volume 24h: —
Volatility (ann.): 2%

BitwayBTW

$1.0890

24h: +16.31%
Market cap: $1.64B
Volume 24h: $6.32M
Volatility (ann.): 365%

PYTHUSDC 0.1%Share of the two combined market caps99.9% BTW

Performance

PYTHUSDCBTW

7 days+0.00%-44.93%PYTHUSDC
30 days+0.09%+73.36%BTW

Correlation

-0.17over 20 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	PYTHUSDC	BTW
Max drawdown (400d)	-0.3%	-60.7%
Risk-adjusted return (90d)	0.04	0.43

Relative strength over 90 days: BTW outperformed PYTHUSDC by 63.4% — measured on the PYTHUSDC/BTW ratio, so it holds regardless of market direction.

Pyth USDC →Bitway →