Sherwood Protocol vs Bitway

Bitway (BTW) is 938.7× the size of Sherwood Protocol (WOOD) by market capitalisation. Over the past 30 days, BTW is ahead by 139.9 percentage points (WOOD -66.6% against BTW +73.4%). Their daily returns move loosely together (correlation 0.53 across 27 shared trading days). Both have run at a similar volatility, around 376% annualised.

Correlation: 0.53
Size ratio: 1 : 938.7
Ahead over 30 days: BTW

Sherwood ProtocolWOOD

$0.001835

24h: -2.06%
Market cap: $1.83M
Volume 24h: $6,889
Volatility (ann.): 386%

BitwayBTW

$1.1400

24h: +16.08%
Market cap: $1.72B
Volume 24h: $6.48M
Volatility (ann.): 365%

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

Performance

WOODBTW

7 days-60.86%-44.93%BTW
30 days-66.58%+73.36%BTW

Correlation

0.53over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5390d: 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	WOOD	BTW
Max drawdown (400d)	-84.1%	-60.7%
Risk-adjusted return (90d)	-0.21	0.43

Relative strength over 90 days: BTW outperformed WOOD by 91.2% — measured on the WOOD/BTW ratio, so it holds regardless of market direction.

Sherwood Protocol →Bitway →