RaveDAO (RAVE) is 757.5× the size of harmonybot (CHAOS) by market capitalisation. Their daily returns move closely together (correlation 0.68 across 27 shared trading days). Both have run at a similar volatility, around 91% annualised.
CHAOSRAVE
0.68over 27 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 | CHAOS | RAVE |
|---|---|---|
| Max drawdown (400d) | -64.9% | -56.3% |
| Risk-adjusted return (90d) | -0.16 | -0.58 |
Relative strength over 90 days: CHAOS outperformed RAVE by 41.8% — measured on the CHAOS/RAVE ratio, so it holds regardless of market direction.