Derive (DRV) is 19.8× the size of Sophon (SOPH) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 57 shared trading days). DRV has been the more volatile of the two, at 596% annualised against SOPH's 125%.
SOPHDRV
-0.00over 57 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 | SOPH | DRV |
|---|---|---|
| Max drawdown (400d) | -95.5% | -32.6% |
| Risk-adjusted return (90d) | -0.33 | 0.40 |
| Best 30 days (past year) | +46.6% | — |
| Worst 30 days (past year) | -64.4% | — |
Relative strength over 90 days: DRV outperformed SOPH by 87.4% — measured on the SOPH/DRV ratio, so it holds regardless of market direction.