Convex Finance (CVX) is 24.3× the size of Inverse Finance (INV) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 42 shared trading days). CVX has been the more volatile of the two, at 104% annualised against INV's 60%.
INVCVX
0.50over 42 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 | INV | CVX |
|---|---|---|
| Max drawdown (400d) | -12.9% | -71.5% |
| Risk-adjusted return (90d) | 0.13 | 0.26 |
| Best 30 days (past year) | — | +88.3% |
| Worst 30 days (past year) | — | -37.0% |
Relative strength over 90 days: INV outperformed CVX by 23.4% — measured on the INV/CVX ratio, so it holds regardless of market direction.