Bitcoin (BTC) is 1549088.6× the size of TrueFi (TRU) by market capitalisation. Their daily returns move loosely together (correlation 0.43 across 254 shared trading days). TRU has been the more volatile of the two, at 147% annualised against BTC's 44%.
| Period | TRU | BTC | Ahead |
|---|---|---|---|
| 7 days | -37.50% | +5.14% | BTC |
| 30 days | -44.44% | +11.26% | BTC |
| 90 days | -70.93% | +28.33% | BTC |
| 1 year | — | -29.73% | — |
| Metric | TRU | BTC |
|---|---|---|
| Max drawdown (400d) | -92.7% | -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: BTC outperformed TRU by 66.5% — measured on the TRU/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.