Aerodrome Finance (AERO) is 30156.8× the size of Ekubo Stock Liquidity Token (STONX) by market capitalisation. Their daily returns move loosely together (correlation 0.37 across 35 shared trading days). STONX has been the more volatile of the two, at 125% annualised against AERO's 101%.
$0.568634
STONXAERO
0.37over 35 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 | STONX | AERO |
|---|---|---|
| Max drawdown (400d) | -49.4% | -36.4% |
| Risk-adjusted return (90d) | -0.21 | 0.42 |
Relative strength over 90 days: AERO outperformed STONX by 40.4% — measured on the STONX/AERO ratio, so it holds regardless of market direction.