Bitcoin (BTC) is 98975890.2× the size of WAV3 Agentic Music Discovery by Virtuals (WAV3) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 184 shared trading days). WAV3 has been the more volatile of the two, at 161% annualised against BTC's 44%.
$1.541e-5
WAV3BTC
0.50over 184 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 | WAV3 | BTC |
|---|---|---|
| Max drawdown (400d) | -96.1% | -53.0% |
| Risk-adjusted return (90d) | -0.48 | 0.42 |
| Best 30 days (past year) | — | +26.8% |
| Worst 30 days (past year) | — | -32.9% |
Relative strength over 90 days: BTC outperformed WAV3 by 82.8% — measured on the WAV3/BTC ratio, so it holds regardless of market direction.