Aerodrome Finance (AERO) is 4.8× the size of GoPlus Security (GPS) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 110 shared trading days). GPS has been the more volatile of the two, at 143% annualised against AERO's 101%.
GPSAERO
-0.06over 110 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 | GPS | AERO |
|---|---|---|
| Max drawdown (400d) | -69.1% | -36.4% |
| Risk-adjusted return (90d) | -0.06 | 0.44 |
| Best 30 days (past year) | +129.2% | — |
| Worst 30 days (past year) | -43.5% | — |
Relative strength over 90 days: AERO outperformed GPS by 39.1% — measured on the GPS/AERO ratio, so it holds regardless of market direction.