Thetanuts Finance vs Derive

Derive (DRV) is 118.6× the size of Thetanuts Finance (NUTS) by market capitalisation. Over the past 30 days, DRV is ahead by 118.7 percentage points (NUTS -4.8% against DRV +113.9%). Their daily returns move barely together (correlation 0.08 across 31 shared trading days). DRV has been the more volatile of the two, at 596% annualised against NUTS's 24%.

Correlation: 0.08
Size ratio: 1 : 118.6
Ahead over 30 days: DRV

Thetanuts FinanceNUTS

$0.000967

24h: +0.69%
Market cap: $3.05M
Volume 24h: $19,809
Volatility (ann.): 24%

DeriveDRV

$0.340764

24h: +12.07%
Market cap: $361.97M
Volume 24h: $6.63M
Volatility (ann.): 596%

NUTS 0.8%Share of the two combined market caps99.2% DRV

Performance

NUTSDRV

7 days+1.76%-12.47%NUTS
30 days-4.78%+113.87%DRV

Correlation

0.08over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0890d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	NUTS	DRV
Max drawdown (400d)	-10.9%	-32.6%
Risk-adjusted return (90d)	-0.34	0.40

Relative strength over 90 days: DRV outperformed NUTS by 54.2% — measured on the NUTS/DRV ratio, so it holds regardless of market direction.

Thetanuts Finance →Derive →