Bitcoin (BTC) is 350269492.9× the size of US BLACKWHALE COIN (USBC) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.40 across 21 shared trading days). BTC has been the more volatile of the two, at 44% annualised against USBC's 16%.
USBCBTC
-0.40over 21 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 | USBC | BTC |
|---|---|---|
| Max drawdown (400d) | -4.2% | -53.0% |
| Risk-adjusted return (90d) | -0.08 | 0.63 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: USBC outperformed BTC by 4.0% — measured on the USBC/BTC ratio, so it holds regardless of market direction.