Aave (AAVE) is 74.7× the size of SynFutures (F) by market capitalisation. Over the past 1 year, AAVE is ahead by 40.1 percentage points (F -76.4% against AAVE -36.3%). Their daily returns move loosely together (correlation 0.45 across 375 shared trading days). F has been the more volatile of the two, at 109% annualised against AAVE's 87%.
FAAVE
0.45over 375 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 | F | AAVE |
|---|---|---|
| Max drawdown (400d) | -87.9% | -79.5% |
| Risk-adjusted return (90d) | -0.04 | 0.46 |
| Best 30 days (past year) | +88.0% | +56.3% |
| Worst 30 days (past year) | -46.3% | -42.7% |
Relative strength over 90 days: AAVE outperformed F by 33.3% — measured on the F/AAVE ratio, so it holds regardless of market direction.