Pudgy Penguins (PENGU) is 508.5× the size of 401jK (401JK) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 40 shared trading days). 401JK has been the more volatile of the two, at 134% annualised against PENGU's 104%.
401JKPENGU
0.61over 40 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 | 401JK | PENGU |
|---|---|---|
| Max drawdown (400d) | -63.5% | -82.4% |
| Risk-adjusted return (90d) | -0.47 | 0.21 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: PENGU outperformed 401JK by 55.5% — measured on the 401JK/PENGU ratio, so it holds regardless of market direction.