WrappedM by M0 vs Bitget Wrapped BTC

Bitget Wrapped BTC (BGBTC) is 1.5× the size of WrappedM by M0 (WM) by market capitalisation. Over the past 30 days, BGBTC is ahead by 0.9 percentage points (WM -0.1% against BGBTC +0.8%). Their daily returns move loosely together (correlation 0.42 across 56 shared trading days). BGBTC has been the more volatile of the two, at 48% annualised against WM's 0%.

Correlation: 0.42
Size ratio: 1 : 1.5
Ahead over 30 days: BGBTC

WrappedM by M0WM

$0.998835

24h: +0.00%
Market cap: $74.61M
Volume 24h: $127
Volatility (ann.): 0%

Bitget Wrapped BTCBGBTC

$80,487

24h: +4.02%
Market cap: $111.39M
Volume 24h: $58,956
Volatility (ann.): 48%

WM 40.1%Share of the two combined market caps59.9% BGBTC

Performance

WMBGBTC

7 days+0.03%-3.64%WM
30 days-0.08%+0.77%BGBTC

Correlation

0.42over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4090d: 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	WM	BGBTC
Max drawdown (400d)	-0.1%	-9.1%
Risk-adjusted return (90d)	-0.10	0.42

Relative strength over 90 days: BGBTC outperformed WM by 17.1% — measured on the WM/BGBTC ratio, so it holds regardless of market direction.

WrappedM by M0 →Bitget Wrapped BTC →