Bitcoin (BTC) is 83107.7× the size of Tesla (bStocks Tokenized Stock) (TSLAB) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 101 shared trading days). Both have run at a similar volatility, around 46% annualised.
| Period | TSLAB | BTC | Ahead |
|---|---|---|---|
| 7 days | -0.63% | +5.14% | BTC |
| 30 days | +5.30% | +11.26% | BTC |
| 90 days | -8.44% | +28.33% | BTC |
| 1 year | — | -29.73% | — |
| Metric | TSLAB | BTC |
|---|---|---|
| Max drawdown (400d) | -29.9% | -53.0% |
| Risk-adjusted return (90d) | -0.17 | 0.74 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed TSLAB by 28.7% — measured on the TSLAB/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.