Aave (AAVE) is 138.8× the size of Ambire Wallet (WALLET) by market capitalisation. Over the past 1 year, WALLET is ahead by 33.0 percentage points (WALLET -3.3% against AAVE -36.3%). Their daily returns move barely together (correlation 0.14 across 373 shared trading days). WALLET has been the more volatile of the two, at 150% annualised against AAVE's 87%.
WALLETAAVE
0.14over 373 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 | WALLET | AAVE |
|---|---|---|
| Max drawdown (400d) | -77.2% | -79.5% |
| Risk-adjusted return (90d) | 0.52 | 0.46 |
| Best 30 days (past year) | +121.4% | +56.3% |
| Worst 30 days (past year) | -69.9% | -42.7% |
Relative strength over 90 days: WALLET outperformed AAVE by 31.7% — measured on the WALLET/AAVE ratio, so it holds regardless of market direction.