Tectonic vs Bitway

Bitway (BTW) is 774.3× the size of Tectonic (TONIC) by market capitalisation. Over the past 30 days, BTW is ahead by 81.1 percentage points (TONIC -35.6% against BTW +45.5%). Their daily returns move barely together (correlation 0.04 across 31 shared trading days). BTW has been the more volatile of the two, at 362% annualised against TONIC's 220%.

Correlation: 0.04
Size ratio: 1 : 774.3
Ahead over 30 days: BTW

TectonicTONIC

$6.533e-9

24h: +2.48%
Market cap: $2.01M
Volume 24h: $4,028
Volatility (ann.): 220%

BitwayBTW

$1.0350

24h: -4.90%
Market cap: $1.56B
Volume 24h: $5.16M
Volatility (ann.): 362%

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

Performance

TONICBTW

7 days-5.48%-40.12%TONIC
30 days-35.64%+45.45%BTW

Correlation

0.04over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: 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	TONIC	BTW
Max drawdown (400d)	-78.9%	-60.7%
Risk-adjusted return (90d)	-0.36	0.48

Relative strength over 90 days: BTW outperformed TONIC by 91.5% — measured on the TONIC/BTW ratio, so it holds regardless of market direction.

Tectonic →Bitway →