Sky (SKY) is 3.7× the size of Curve DAO (CRV) by market capitalisation. Over the past 1 year, SKY is ahead by 60.7 percentage points (SKY +21.5% against CRV -39.2%). Their daily returns move loosely together (correlation 0.46 across 399 shared trading days). CRV has been the more volatile of the two, at 92% annualised against SKY's 73%.
SKYCRV
0.46over 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 | SKY | CRV |
|---|---|---|
| Max drawdown (400d) | -44.9% | -76.8% |
| Risk-adjusted return (90d) | 0.20 | 0.27 |
| Best 30 days (past year) | +59.9% | +82.7% |
| Worst 30 days (past year) | -33.0% | -46.1% |
Relative strength over 90 days: CRV outperformed SKY by 8.7% — measured on the SKY/CRV ratio, so it holds regardless of market direction.