Xend Finance vs Spiko Amundi Overnight Swap Fund

Spiko Amundi Overnight Swap Fund (SAFO) is 891.0× the size of Xend Finance (RWA) by market capitalisation. Over the past 30 days, SAFO is ahead by 15.3 percentage points (RWA -14.7% against SAFO +0.6%). Their daily returns move barely in opposite directions (correlation -0.14 across 23 shared trading days). RWA has been the more volatile of the two, at 34% annualised against SAFO's 1%.

Correlation: -0.14
Size ratio: 1 : 891.0
Ahead over 30 days: SAFO

Xend FinanceRWA

$0.001356

24h: -1.88%
Market cap: $271,212
Volume 24h: $9,260
Volatility (ann.): 34%

Spiko Amundi Overnight Swap FundSAFO

$1.0270

24h: +0.01%
Market cap: $241.64M
Volume 24h: —
Volatility (ann.): 1%

RWA 0.1%Share of the two combined market caps99.9% SAFO

Performance

RWASAFO

7 days-2.34%+0.10%SAFO
30 days-14.68%+0.59%SAFO

Correlation

-0.14over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	RWA	SAFO
Max drawdown (400d)	-15.2%	0.0%
Risk-adjusted return (90d)	-0.38	1.15

Relative strength over 90 days: SAFO outperformed RWA by 3.6% — measured on the RWA/SAFO ratio, so it holds regardless of market direction.

Xend Finance →Spiko Amundi Overnight Swap Fund →