Aerodrome Finance (AERO) is 29909.1× the size of Coral Finance (CORL) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.21 across 33 shared trading days). CORL has been the more volatile of the two, at 136% annualised against AERO's 101%.
CORLAERO
-0.21over 33 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 | CORL | AERO |
|---|---|---|
| Max drawdown (400d) | -48.3% | -36.4% |
| Risk-adjusted return (90d) | -0.30 | 0.42 |
Relative strength over 90 days: AERO outperformed CORL by 24.9% — measured on the CORL/AERO ratio, so it holds regardless of market direction.