Derive vs Lighter

Lighter (LIT) is 2.5× the size of Derive (DRV) by market capitalisation. Over the past 30 days, DRV is ahead by 121.5 percentage points (DRV +113.9% against LIT -7.6%). Their daily returns move barely in opposite directions (correlation -0.22 across 26 shared trading days). DRV has been the more volatile of the two, at 596% annualised against LIT's 120%.

Correlation: -0.22
Size ratio: 1 : 2.5
Ahead over 30 days: DRV

DeriveDRV

$0.336170

24h: +11.35%
Market cap: $357.10M
Volume 24h: $6.32M
Volatility (ann.): 596%

LighterLIT

$0.743000

24h: +11.50%
Market cap: $878.44M
Volume 24h: $132.75M
Volatility (ann.): 120%

DRV 28.9%Share of the two combined market caps71.1% LIT

Performance

DRVLIT

7 days-12.47%+11.51%LIT
30 days+113.87%-7.63%DRV

Correlation

-0.22over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2290d: 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	DRV	LIT
Max drawdown (400d)	-32.6%	-42.9%
Risk-adjusted return (90d)	0.40	-0.25

Relative strength over 90 days: DRV outperformed LIT by 3.3% — measured on the DRV/LIT ratio, so it holds regardless of market direction.

Derive →Lighter →