folly vs mistake

folly and mistake both are nouns.

Word	Noun	Adjective	Verb	Adverb
folly	Yes	No	No	No
mistake	Yes	No	Yes	No

As nouns, mistake is a hypernym of folly; that is, mistake is a word with a broader meaning than folly:

folly: a stupid mistake
mistake: a wrong action attributable to bad judgment or ignorance or inattention

Other hypernyms of folly include error, fault.

folly (noun)	mistake (noun)
foolish or senseless behavior	a wrong action attributable to bad judgment or ignorance or inattention
a stupid mistake	an understanding of something that is not correct
the trait of acting stupidly or rashly	part of a statement that is not correct
the quality of being rash and foolish

folly (verb)	mistake (verb)
	to make a mistake or be incorrect
	identify incorrectly