Bitcoin (BTC) is 4221217.8× the size of Radiant (RXD) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 31 shared trading days). RXD has been the more volatile of the two, at 462% annualised against BTC's 44%.
RXDBTC
-0.05over 31 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 | RXD | BTC |
|---|---|---|
| Max drawdown (400d) | -50.5% | -53.0% |
| Risk-adjusted return (90d) | 0.15 | 0.63 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: RXD outperformed BTC by 63.6% — measured on the RXD/BTC ratio, so it holds regardless of market direction.