Maple Finance (SYRUP) is 7.4× the size of OpenEden (EDEN) by market capitalisation. Over the past 1 year, EDEN is ahead by 11.6 percentage points (EDEN -49.1% against SYRUP -60.7%). Their daily returns move barely together (correlation 0.25 across 399 shared trading days). EDEN has been the more volatile of the two, at 166% annualised against SYRUP's 87%.
EDENSYRUP
0.25over 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 | EDEN | SYRUP |
|---|---|---|
| Max drawdown (400d) | -93.3% | -74.3% |
| Risk-adjusted return (90d) | 0.26 | 0.00 |
| Best 30 days (past year) | +254.7% | +52.7% |
| Worst 30 days (past year) | -60.3% | -49.6% |
Relative strength over 90 days: EDEN outperformed SYRUP by 45.3% — measured on the EDEN/SYRUP ratio, so it holds regardless of market direction.