Derive (DRV) is 18.3× the size of BOB (Build on Bitcoin) (BOB) by market capitalisation. Their daily returns move loosely together (correlation 0.43 across 40 shared trading days). DRV has been the more volatile of the two, at 596% annualised against BOB's 162%.
BOBDRV
0.43over 40 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 | BOB | DRV |
|---|---|---|
| Max drawdown (400d) | -32.6% | -32.6% |
| Risk-adjusted return (90d) | -0.06 | 0.40 |
Relative strength over 90 days: DRV outperformed BOB by 64.8% — measured on the BOB/DRV ratio, so it holds regardless of market direction.