Bitcoin (BTC) is 2162975.6× the size of Super Micro Computer (bStocks Tokenized Stock) (SMCIB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 46 shared trading days). SMCIB has been the more volatile of the two, at 76% annualised against BTC's 44%.
| Period | SMCIB | BTC | Ahead |
|---|---|---|---|
| 7 days | -2.76% | +5.14% | BTC |
| 30 days | +6.30% | +11.26% | BTC |
| 90 days | — | +28.33% | — |
| 1 year | — | -29.73% | — |
| Metric | SMCIB | BTC |
|---|---|---|
| Max drawdown (400d) | -13.6% | -53.0% |
| Risk-adjusted return (90d) | 0.37 | 0.74 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: SMCIB outperformed BTC by 2.0% — measured on the SMCIB/BTC ratio, so it holds regardless of market direction.
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.