Metalos vs Derive

Derive (DRV) is 20046.0× the size of Metalos (METALOS) by market capitalisation. Over the past 30 days, DRV is ahead by 173.3 percentage points (METALOS -36.8% against DRV +136.5%). Their daily returns move barely in opposite directions (correlation -0.12 across 22 shared trading days). DRV has been the more volatile of the two, at 590% annualised against METALOS's 94%.

Correlation: -0.12
Size ratio: 1 : 20046.0
Ahead over 30 days: DRV

MetalosMETALOS

$1.698e-5

24h: +6.88%
Market cap: $16,980
Volume 24h: $5
Volatility (ann.): 94%

DeriveDRV

$0.320444

24h: -6.87%
Market cap: $340.37M
Volume 24h: $25.34M
Volatility (ann.): 590%

METALOS 0.0%Share of the two combined market caps100.0% DRV

Performance

METALOSDRV

7 days-7.85%-8.10%METALOS
30 days-36.79%+136.49%DRV

Correlation

-0.12over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	METALOS	DRV
Max drawdown (400d)	-41.0%	-32.6%
Risk-adjusted return (90d)	-0.39	0.45

Relative strength over 90 days: DRV outperformed METALOS by 15.1% — measured on the METALOS/DRV ratio, so it holds regardless of market direction.

Metalos →Derive →