Wave Swap vs Bitway

Bitway (BTW) is 67971.8× the size of Wave Swap (WAVE) by market capitalisation. Over the past 30 days, BTW is ahead by 109.5 percentage points (WAVE -64.0% against BTW +45.5%). Their daily returns move barely together (correlation 0.25 across 24 shared trading days). BTW has been the more volatile of the two, at 362% annualised against WAVE's 174%.

Correlation: 0.25
Size ratio: 1 : 67971.8
Ahead over 30 days: BTW

Wave SwapWAVE

$2.272e-5

24h: -23.84%
Market cap: $22,699
Volume 24h: $2,642
Volatility (ann.): 174%

BitwayBTW

$1.0250

24h: -6.76%
Market cap: $1.54B
Volume 24h: $3.60M
Volatility (ann.): 362%

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

Performance

WAVEBTW

7 days-32.97%-40.12%WAVE
30 days-64.03%+45.45%BTW

Correlation

0.25over 24 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	WAVE	BTW
Max drawdown (400d)	-64.2%	-60.7%
Risk-adjusted return (90d)	-0.36	0.48

Relative strength over 90 days: BTW outperformed WAVE by 26.8% — measured on the WAVE/BTW ratio, so it holds regardless of market direction.

Wave Swap →Bitway →