Maple Finance (SYRUP) is 12.9× the size of Stargate Finance (STG) by market capitalisation. Over the past 1 year, STG is ahead by 34.9 percentage points (STG -25.7% against SYRUP -60.7%). Their daily returns move barely together (correlation 0.20 across 373 shared trading days). STG has been the more volatile of the two, at 155% annualised against SYRUP's 87%.
STGSYRUP
0.20over 373 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 | STG | SYRUP |
|---|---|---|
| Max drawdown (400d) | -81.6% | -74.3% |
| Risk-adjusted return (90d) | -0.05 | 0.00 |
| Best 30 days (past year) | +181.0% | +52.7% |
| Worst 30 days (past year) | -75.8% | -49.6% |
Relative strength over 90 days: STG outperformed SYRUP by 10.3% — measured on the STG/SYRUP ratio, so it holds regardless of market direction.