Mayflower (MAY) and Convex Finance (CVX) compared side by side. Over the past 1 year, CVX is ahead by 99.6 percentage points (MAY -97.2% against CVX +2.4%). Their daily returns move barely together (correlation 0.16 across 365 shared trading days). MAY has been the more volatile of the two, at 162% annualised against CVX's 104%.
MAYCVX
0.16over 365 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 | MAY | CVX |
|---|---|---|
| Max drawdown (400d) | -97.5% | -71.5% |
| Risk-adjusted return (90d) | -0.28 | 0.26 |
| Best 30 days (past year) | — | +88.3% |
| Worst 30 days (past year) | — | -37.0% |
Relative strength over 90 days: CVX outperformed MAY by 80.1% — measured on the MAY/CVX ratio, so it holds regardless of market direction.