Aave (AAVE) is 1846.9× the size of Quantix Finance (QFI) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 181 shared trading days). QFI has been the more volatile of the two, at 240% annualised against AAVE's 87%.
QFIAAVE
-0.06over 181 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 | QFI | AAVE |
|---|---|---|
| Max drawdown (400d) | -91.8% | -79.5% |
| Risk-adjusted return (90d) | -0.20 | 0.46 |
| Best 30 days (past year) | — | +56.3% |
| Worst 30 days (past year) | — | -42.7% |
Relative strength over 90 days: AAVE outperformed QFI by 82.0% — measured on the QFI/AAVE ratio, so it holds regardless of market direction.