The9bit (9BIT) and OVERTAKE (TAKE) compared side by side. Their daily returns move barely together (correlation 0.10 across 268 shared trading days). TAKE has been the more volatile of the two, at 219% annualised against 9BIT's 190%.
9BITTAKE
0.10over 268 shared trading days
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.
| Metric | 9BIT | TAKE |
|---|---|---|
| Max drawdown (400d) | -59.7% | -96.8% |
| Risk-adjusted return (90d) | 0.14 | 0.89 |
| Best 30 days (past year) | — | +242.3% |
| Worst 30 days (past year) | — | -91.5% |
Relative strength over 90 days: TAKE outperformed 9BIT by 64.6% — measured on the 9BIT/TAKE ratio, so it holds regardless of market direction.