Flying Tulip vs Derive

Derive (DRV) is 6.6× the size of Flying Tulip (FT) by market capitalisation. Over the past 30 days, DRV is ahead by 103.6 percentage points (FT +10.2% against DRV +113.9%). Their daily returns move loosely together (correlation 0.41 across 51 shared trading days). DRV has been the more volatile of the two, at 596% annualised against FT's 116%.

Correlation: 0.41
Size ratio: 1 : 6.6
Ahead over 30 days: DRV

Flying TulipFT

$0.115174

24h: +3.14%
Market cap: $56.02M
Volume 24h: $74,422
Volatility (ann.): 116%

DeriveDRV

$0.348944

24h: +14.55%
Market cap: $370.56M
Volume 24h: $7.98M
Volatility (ann.): 596%

FT 13.1%Share of the two combined market caps86.9% DRV

Performance

FTDRV

7 days-10.62%-12.47%FT
30 days+10.23%+113.87%DRV

Correlation

0.41over 51 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4390d: 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	FT	DRV
Max drawdown (400d)	-26.2%	-32.6%
Risk-adjusted return (90d)	0.11	0.40

Relative strength over 90 days: DRV outperformed FT by 65.2% — measured on the FT/DRV ratio, so it holds regardless of market direction.

Flying Tulip →Derive →