Aerodrome Finance (AERO) is 363.0× the size of Netswap (NETT) by market capitalisation. Their daily returns move barely together (correlation 0.14 across 75 shared trading days). AERO has been the more volatile of the two, at 101% annualised against NETT's 79%.
NETTAERO
0.14over 75 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 | NETT | AERO |
|---|---|---|
| Max drawdown (400d) | -82.7% | -36.4% |
| Risk-adjusted return (90d) | -0.36 | 0.44 |
Relative strength over 90 days: AERO outperformed NETT by 55.6% — measured on the NETT/AERO ratio, so it holds regardless of market direction.