Tidal Finance vs Bitway

Bitway (BTW) is 127913.7× the size of Tidal Finance (TIDAL) by market capitalisation. Over the past 30 days, BTW is ahead by 45.2 percentage points (TIDAL +0.3% against BTW +45.5%). Their daily returns move barely together (correlation 0.12 across 20 shared trading days). BTW has been the more volatile of the two, at 362% annualised against TIDAL's 44%.

Correlation: 0.12
Size ratio: 1 : 127913.7
Ahead over 30 days: BTW

Tidal FinanceTIDAL

$1.500e-6

24h: —
Market cap: $11,843
Volume 24h: $2
Volatility (ann.): 44%

BitwayBTW

$1.0040

24h: -5.74%
Market cap: $1.51B
Volume 24h: $3.63M
Volatility (ann.): 362%

TIDAL 0.0%Share of the two combined market caps100.0% BTW

Performance

TIDALBTW

7 days-0.13%-40.12%TIDAL
30 days+0.27%+45.45%BTW

Correlation

0.12over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	TIDAL	BTW
Max drawdown (400d)	-9.0%	-60.7%
Risk-adjusted return (90d)	0.01	0.48

Relative strength over 90 days: TIDAL outperformed BTW by 64.3% — measured on the TIDAL/BTW ratio, so it holds regardless of market direction.

Tidal Finance →Bitway →