Bubble Protocol vs Derive

Derive (DRV) is 1115.7× the size of Bubble Protocol (BPL) by market capitalisation. Over the past 30 days, DRV is ahead by 113.7 percentage points (BPL +0.1% against DRV +113.9%). Their daily returns move loosely together (correlation 0.47 across 21 shared trading days). DRV has been the more volatile of the two, at 596% annualised against BPL's 130%.

Correlation: 0.47
Size ratio: 1 : 1115.7
Ahead over 30 days: DRV

Bubble ProtocolBPL

$0.016265

24h: +1.68%
Market cap: $325,295
Volume 24h: $669
Volatility (ann.): 130%

DeriveDRV

$0.341647

24h: +12.28%
Market cap: $362.92M
Volume 24h: $7.05M
Volatility (ann.): 596%

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

Performance

BPLDRV

7 days-0.76%-12.47%BPL
30 days+0.13%+113.87%DRV

Correlation

0.47over 21 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	BPL	DRV
Max drawdown (400d)	-23.4%	-32.6%
Risk-adjusted return (90d)	0.00	0.40

Relative strength over 90 days: DRV outperformed BPL by 58.9% — measured on the BPL/DRV ratio, so it holds regardless of market direction.

Bubble Protocol →Derive →