Bitcoin (BTC) is 2253227.5× the size of RealBriefly (REAL) by market capitalisation. Their daily returns move barely together (correlation 0.22 across 39 shared trading days). REAL has been the more volatile of the two, at 209% annualised against BTC's 44%.
REALBTC
0.22over 39 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 | REAL | BTC |
|---|---|---|
| Max drawdown (400d) | -59.2% | -53.0% |
| Risk-adjusted return (90d) | -0.26 | 0.51 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed REAL by 54.8% — measured on the REAL/BTC ratio, so it holds regardless of market direction.