Squid vs Bitway

Bitway (BTW) is 216.0× the size of Squid (QUID) by market capitalisation. Over the past 30 days, BTW is ahead by 87.9 percentage points (QUID -14.6% against BTW +73.4%). Their daily returns move barely together (correlation 0.20 across 45 shared trading days). BTW has been the more volatile of the two, at 365% annualised against QUID's 99%.

Correlation: 0.20
Size ratio: 1 : 216.0
Ahead over 30 days: BTW

SquidQUID

$0.055696

24h: -0.83%
Market cap: $7.97M
Volume 24h: $2.26M
Volatility (ann.): 99%

BitwayBTW

$1.1400

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

QUID 0.5%Share of the two combined market caps99.5% BTW

Performance

QUIDBTW

7 days-1.03%-44.93%QUID
30 days-14.59%+73.36%BTW

Correlation

0.20over 45 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2190d: 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	QUID	BTW
Max drawdown (400d)	-51.2%	-60.7%
Risk-adjusted return (90d)	-0.51	0.43

Relative strength over 90 days: BTW outperformed QUID by 69.6% — measured on the QUID/BTW ratio, so it holds regardless of market direction.

Squid →Bitway →