WhiteBIT Coin (WBT) is 2.5× the size of Gram (prev. Toncoin) (GRAM) by market capitalisation. Their daily returns move loosely together (correlation 0.58 across 31 shared trading days). WBT has been the more volatile of the two, at 72% annualised against GRAM's 49%.
| Period | WBT | GRAM | Ahead |
|---|---|---|---|
| 7 days | -2.10% | -0.22% | GRAM |
| 30 days | +45.54% | -1.07% | WBT |
| 90 days | — | -17.15% | — |
| Metric | WBT | GRAM |
|---|---|---|
| Max drawdown (400d) | -4.0% | -26.0% |
| Risk-adjusted return (90d) | 0.64 | -0.35 |
Relative strength over 90 days: WBT outperformed GRAM by 46.5% — measured on the WBT/GRAM 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.