Bifrost vs Derive

Derive (DRV) is 1081.3× the size of Bifrost (BNC) by market capitalisation. Over the past 30 days, DRV is ahead by 168.1 percentage points (BNC -31.6% against DRV +136.5%). Their daily returns move loosely together (correlation 0.40 across 20 shared trading days). DRV has been the more volatile of the two, at 590% annualised against BNC's 85%.

Correlation: 0.40
Size ratio: 1 : 1081.3
Ahead over 30 days: DRV

BifrostBNC

$0.009672

24h: +8.91%
Market cap: $362,562
Volume 24h: $140,924
Volatility (ann.): 85%

DeriveDRV

$0.369079

24h: +14.78%
Market cap: $392.06M
Volume 24h: $21.00M
Volatility (ann.): 590%

BNC 0.1%Share of the two combined market caps99.9% DRV

Performance

BNCDRV

7 days-1.00%-8.10%BNC
30 days-31.63%+136.49%DRV

Correlation

0.40over 20 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	BNC	DRV
Max drawdown (400d)	-35.5%	-32.6%
Risk-adjusted return (90d)	-0.37	0.45

Relative strength over 90 days: DRV outperformed BNC by 73.4% — measured on the BNC/DRV ratio, so it holds regardless of market direction.

Bifrost →Derive →