Maple Finance (SYRUP) is 18.6× the size of Lingo (LINGO) by market capitalisation. Over the past 1 year, LINGO is ahead by 29.9 percentage points (LINGO -30.8% against SYRUP -60.7%). Their daily returns move barely together (correlation 0.06 across 373 shared trading days). Both have run at a similar volatility, around 90% annualised.
LINGOSYRUP
0.06over 373 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 | LINGO | SYRUP |
|---|---|---|
| Max drawdown (400d) | -68.4% | -74.3% |
| Risk-adjusted return (90d) | 0.59 | 0.00 |
| Best 30 days (past year) | +88.1% | +52.7% |
| Worst 30 days (past year) | -45.3% | -49.6% |
Relative strength over 90 days: LINGO outperformed SYRUP by 117.6% — measured on the LINGO/SYRUP ratio, so it holds regardless of market direction.