Pepe (PEPE) is 425781.5× the size of 4444 (4444) by market capitalisation. Their daily returns move barely together (correlation 0.20 across 24 shared trading days). PEPE has been the more volatile of the two, at 102% annualised against 4444's 47%.
4444PEPE
0.20over 24 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 | 4444 | PEPE |
|---|---|---|
| Max drawdown (400d) | -18.0% | -77.2% |
| Risk-adjusted return (90d) | -0.38 | 0.71 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: PEPE outperformed 4444 by 25.2% — measured on the 4444/PEPE ratio, so it holds regardless of market direction.