Falcon USD (USDF) is 11.8× the size of crvUSD (CRVUSD) by market capitalisation. Over the past 30 days, CRVUSD is ahead by 0.3 percentage points (USDF -0.4% against CRVUSD -0.1%). Their daily returns move barely together (correlation 0.17 across 57 shared trading days). Both have run at a similar volatility, around 1% annualised.
USDFCRVUSD
0.17over 57 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 | USDF | CRVUSD |
|---|---|---|
| Max drawdown (400d) | -0.6% | -0.3% |
| Risk-adjusted return (90d) | -0.31 | -0.06 |
Relative strength over 90 days: CRVUSD outperformed USDF by 0.2% — measured on the USDF/CRVUSD ratio, so it holds regardless of market direction.