Maple Finance (SYRUP) is 806.7× the size of Celsius Network (CEL) by market capitalisation. Over the past 1 year, SYRUP is ahead by 31.0 percentage points (CEL -88.4% against SYRUP -57.5%). Their daily returns move barely together (correlation 0.08 across 373 shared trading days). CEL has been the more volatile of the two, at 204% annualised against SYRUP's 87%.
CELSYRUP
0.08over 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 | CEL | SYRUP |
|---|---|---|
| Max drawdown (400d) | -95.6% | -74.3% |
| Risk-adjusted return (90d) | -0.19 | 0.04 |
| Best 30 days (past year) | +128.7% | +52.7% |
| Worst 30 days (past year) | -72.0% | -49.6% |
Relative strength over 90 days: SYRUP outperformed CEL by 33.5% — measured on the CEL/SYRUP ratio, so it holds regardless of market direction.