f(x) Protocol fxUSD vs Dai

Dai (DAI) is 52.7× the size of f(x) Protocol fxUSD (FXUSD) by market capitalisation. Over the past 30 days, FXUSD is ahead by 0.0 percentage points (FXUSD +0.0% against DAI +0.0%). Their daily returns move barely together (correlation 0.32 across 26 shared trading days). FXUSD has been the more volatile of the two, at 1% annualised against DAI's 1%.

Correlation: 0.32
Size ratio: 1 : 52.7
Ahead over 30 days: FXUSD

f(x) Protocol fxUSDFXUSD

$1.0000

24h: +0.02%
Market cap: $85.88M
Volume 24h: $71.85M
Volatility (ann.): 1%

DaiDAI

$1.0000

24h: +0.01%
Market cap: $4.53B
Volume 24h: $141.39M
Volatility (ann.): 1%

FXUSD 1.9%Share of the two combined market caps98.1% DAI

Performance

FXUSDDAI

7 days+0.00%+0.00%FXUSD
30 days+0.05%+0.02%FXUSD

Correlation

0.32over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 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	FXUSD	DAI
Max drawdown (400d)	-0.2%	-0.1%
Risk-adjusted return (90d)	0.10	0.03

Relative strength over 90 days: DAI outperformed FXUSD by 0.0% — measured on the FXUSD/DAI ratio, so it holds regardless of market direction.

f(x) Protocol fxUSD →Dai →