MKR-USD vs. AAVE-USD
MKR-USD (Maker) and AAVE-USD (Aave) are both cryptocurrencies. Over the past 5 years, MKR-USD returned -16.63%/yr vs -29.68%/yr for AAVE-USD. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
MKR-USD vs. AAVE-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MKR-USD achieves a 25.60% return, which is significantly higher than AAVE-USD's -56.87% return.
MKR-USD
- 1D
- 0.05%
- 1M
- -4.88%
- YTD
- 25.60%
- 6M
- 35.09%
- 1Y
- -2.50%
- 3Y*
- 39.84%
- 5Y*
- -16.63%
- 10Y*
- —
AAVE-USD
- 1D
- -11.74%
- 1M
- -33.35%
- YTD
- -56.87%
- 6M
- -65.75%
- 1Y
- -74.01%
- 3Y*
- 0.59%
- 5Y*
- -29.68%
- 10Y*
- —
MKR-USD vs. AAVE-USD - Yearly Performance Comparison
Correlation
The correlation between MKR-USD and AAVE-USD is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2020 | 0.58 |
The correlation between MKR-USD and AAVE-USD has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
MKR-USD vs. AAVE-USD — Risk / Return Rank
MKR-USD
AAVE-USD
MKR-USD vs. AAVE-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Maker (MKR-USD) and Aave (AAVE-USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| MKR-USD | AAVE-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.85 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | -0.90 | +0.96 |
| Martin ratioReturn relative to average drawdown | 0.12 | -1.46 | +1.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MKR-USD | AAVE-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | -0.87 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | -0.30 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.03 | +0.18 |
Drawdowns
MKR-USD vs. AAVE-USD - Drawdown Comparison
The maximum MKR-USD drawdown since its inception was -91.59%, roughly equal to the maximum AAVE-USD drawdown of -92.10%. Use the drawdown chart below to compare losses from any high point for MKR-USD and AAVE-USD.
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Drawdown Indicators
| MKR-USD | AAVE-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.59% | -92.10% | +0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -57.25% | -82.43% | +25.18% |
Max Drawdown (3Y)Largest decline over 3 years | -77.22% | -83.58% | +6.36% |
Max Drawdown (5Y)Largest decline over 5 years | -87.00% | -88.40% | +1.40% |
Current DrawdownCurrent decline from peak | -71.81% | -90.00% | +18.19% |
Average DrawdownAverage peak-to-trough decline | -66.20% | -68.44% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.21% | 53.16% | -32.95% |
Volatility
MKR-USD vs. AAVE-USD - Volatility Comparison
The current volatility for Maker (MKR-USD) is 17.38%, while Aave (AAVE-USD) has a volatility of 19.39%. This indicates that MKR-USD experiences smaller price fluctuations and is considered to be less risky than AAVE-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKR-USD | AAVE-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.38% | 19.39% | -2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 46.16% | 57.58% | -11.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.51% | 70.70% | -8.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.29% | 83.12% | -6.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.49% | 3,554.58% | -3,464.09% |
Frequently Asked Questions
MKR-USD and AAVE-USD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAVE-USD has higher volatility (19.39%) compared to MKR-USD (17.38%). In terms of maximum drawdown, MKR-USD dropped -91.59% vs AAVE-USD's -92.10%.
MKR-USD currently has the higher Sharpe Ratio (0.05 vs -0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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