Index Coop - ETH 2x Flexible Leverage Index vs Derive

Derive (DRV) is 206.0× the size of Index Coop - ETH 2x Flexible Leverage Index (ETH2X-FLI) by market capitalisation. Over the past 30 days, DRV is ahead by 131.0 percentage points (ETH2X-FLI -17.1% against DRV +113.9%). Their daily returns move closely together (correlation 0.64 across 31 shared trading days). DRV has been the more volatile of the two, at 596% annualised against ETH2X-FLI's 111%.

Correlation: 0.64
Size ratio: 1 : 206.0
Ahead over 30 days: DRV

Index Coop - ETH 2x Flexible Leverage IndexETH2X-FLI

$3.0700

24h: +0.02%
Market cap: $1.74M
Volume 24h: $1,820
Volatility (ann.): 111%

DeriveDRV

$0.336947

24h: +11.08%
Market cap: $357.92M
Volume 24h: $6.71M
Volatility (ann.): 596%

ETH2X-FLI 0.5%Share of the two combined market caps99.5% DRV

Performance

ETH2X-FLIDRV

7 days-4.83%-12.47%ETH2X-FLI
30 days-17.11%+113.87%DRV

Correlation

0.64over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6490d: 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	ETH2X-FLI	DRV
Max drawdown (400d)	-34.0%	-32.6%
Risk-adjusted return (90d)	-0.17	0.40

Relative strength over 90 days: DRV outperformed ETH2X-FLI by 59.4% — measured on the ETH2X-FLI/DRV ratio, so it holds regardless of market direction.

Index Coop - ETH 2x Flexible Leverage Index →Derive →