Bone ShibaSwap vs Derive

Derive (DRV) is 28.2× the size of Bone ShibaSwap (BONE) by market capitalisation. Over the past 30 days, DRV is ahead by 106.5 percentage points (BONE +7.4% against DRV +113.9%). Their daily returns move closely together (correlation 0.79 across 33 shared trading days). DRV has been the more volatile of the two, at 596% annualised against BONE's 58%.

Correlation: 0.79
Size ratio: 1 : 28.2
Ahead over 30 days: DRV

Bone ShibaSwapBONE

$0.051285

24h: +0.43%
Market cap: $12.81M
Volume 24h: $2.28M
Volatility (ann.): 58%

DeriveDRV

$0.340764

24h: +12.07%
Market cap: $361.97M
Volume 24h: $6.63M
Volatility (ann.): 596%

BONE 3.4%Share of the two combined market caps96.6% DRV

Performance

BONEDRV

7 days-4.43%-12.47%BONE
30 days+7.35%+113.87%DRV

Correlation

0.79over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8190d: 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	BONE	DRV
Max drawdown (400d)	-13.2%	-32.6%
Risk-adjusted return (90d)	0.10	0.40

Relative strength over 90 days: DRV outperformed BONE by 44.4% — measured on the BONE/DRV ratio, so it holds regardless of market direction.

Bone ShibaSwap →Derive →