Aave (AAVE) is 98063.9× the size of VEMP Horizon (VEMP) by market capitalisation. Over the past 1 year, AAVE is ahead by 62.8 percentage points (VEMP -92.7% against AAVE -29.9%). Their daily returns move barely together (correlation 0.10 across 362 shared trading days). VEMP has been the more volatile of the two, at 118% annualised against AAVE's 87%.
VEMPAAVE
0.10over 362 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 | VEMP | AAVE |
|---|---|---|
| Max drawdown (400d) | -93.6% | -79.5% |
| Risk-adjusted return (90d) | -0.10 | 0.51 |
| Best 30 days (past year) | — | +56.3% |
| Worst 30 days (past year) | — | -42.7% |
Relative strength over 90 days: AAVE outperformed VEMP by 51.4% — measured on the VEMP/AAVE ratio, so it holds regardless of market direction.