Energy Web Token (EWT) is 7.4× the size of VeBetterDAO (B3TR) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.17 across 32 shared trading days). Both have run at a similar volatility, around 90% annualised.
B3TREWT
-0.17over 32 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 | B3TR | EWT |
|---|---|---|
| Max drawdown (400d) | -93.8% | -21.1% |
| Risk-adjusted return (90d) | 0.74 | 0.00 |
Relative strength over 90 days: B3TR outperformed EWT by 33.8% — measured on the B3TR/EWT ratio, so it holds regardless of market direction.