Derive (DRV) is 9031.5× the size of Pell Network Token (PELL) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 35 shared trading days). DRV has been the more volatile of the two, at 590% annualised against PELL's 98%.
PELLDRV
-0.14over 35 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 | PELL | DRV |
|---|---|---|
| Max drawdown (400d) | -92.1% | -32.6% |
| Risk-adjusted return (90d) | -0.61 | 0.45 |
Relative strength over 90 days: DRV outperformed PELL by 74.4% — measured on the PELL/DRV ratio, so it holds regardless of market direction.