Crafting Finance (CRF) and PancakeSwap (CAKE) compared side by side. Over the past 1 year, CAKE is ahead by 54.0 percentage points (CRF -69.1% against CAKE -15.0%). Their daily returns move barely together (correlation 0.10 across 370 shared trading days). CRF has been the more volatile of the two, at 143% annualised against CAKE's 82%.
CRFCAKE
0.10over 370 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 | CRF | CAKE |
|---|---|---|
| Max drawdown (400d) | -95.2% | -73.4% |
| Risk-adjusted return (90d) | -0.51 | 0.49 |
| Best 30 days (past year) | +820.5% | +65.1% |
| Worst 30 days (past year) | -90.3% | -38.0% |
Relative strength over 90 days: CAKE outperformed CRF by 95.3% — measured on the CRF/CAKE ratio, so it holds regardless of market direction.