Cod3x vs Derive

Derive (DRV) is 2962.9× the size of Cod3x (CDX) by market capitalisation. Over the past 30 days, DRV is ahead by 173.0 percentage points (CDX -59.1% against DRV +113.9%). Their daily returns move barely in opposite directions (correlation -0.20 across 22 shared trading days). DRV has been the more volatile of the two, at 596% annualised against CDX's 216%.

Correlation: -0.20
Size ratio: 1 : 2962.9
Ahead over 30 days: DRV

Cod3xCDX

$0.002423

24h: +0.48%
Market cap: $118,647
Volume 24h: $17
Volatility (ann.): 216%

DeriveDRV

$0.330933

24h: +9.82%
Market cap: $351.54M
Volume 24h: $5.99M
Volatility (ann.): 596%

CDX 0.0%Share of the two combined market caps100.0% DRV

Performance

CDXDRV

7 days-51.73%-12.47%DRV
30 days-59.09%+113.87%DRV

Correlation

-0.20over 22 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	CDX	DRV
Max drawdown (400d)	-69.6%	-32.6%
Risk-adjusted return (90d)	-0.30	0.40

Relative strength over 90 days: DRV outperformed CDX by 55.7% — measured on the CDX/DRV ratio, so it holds regardless of market direction.

Cod3x →Derive →