Bio Protocol (BIO) is 3.6× the size of Maverick Protocol (MAV) by market capitalisation. Over the past 1 year, MAV is ahead by 2.1 percentage points (MAV -71.3% against BIO -73.4%). Their daily returns move loosely together (correlation 0.39 across 399 shared trading days). BIO has been the more volatile of the two, at 137% annualised against MAV's 100%.
MAVBIO
0.39over 399 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 | MAV | BIO |
|---|---|---|
| Max drawdown (400d) | -87.4% | -89.5% |
| Risk-adjusted return (90d) | 0.05 | -0.17 |
| Best 30 days (past year) | +37.5% | +253.8% |
| Worst 30 days (past year) | -45.1% | -52.7% |
Relative strength over 90 days: MAV outperformed BIO by 21.5% — measured on the MAV/BIO ratio, so it holds regardless of market direction.