Bitcoin (BTC) is 18279529.9× the size of Sakai Vault (SAKAI) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.37 across 23 shared trading days). Both have run at a similar volatility, around 44% annualised.
SAKAIBTC
-0.37over 23 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 | SAKAI | BTC |
|---|---|---|
| Max drawdown (400d) | -7.2% | -53.0% |
| Risk-adjusted return (90d) | 0.01 | 0.63 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: SAKAI outperformed BTC by 5.7% — measured on the SAKAI/BTC ratio, so it holds regardless of market direction.