Anonymous Cat (ZCAT) is 8349.8× the size of A little cat worn down by life. (棱角猫) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 23 shared trading days). ZCAT has been the more volatile of the two, at 290% annualised against 棱角猫's 55%.
棱角猫ZCAT
0.02over 23 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 | 棱角猫 | ZCAT |
|---|---|---|
| Max drawdown (400d) | -28.9% | -67.3% |
| Risk-adjusted return (90d) | -0.47 | -0.20 |
Relative strength over 90 days: 棱角猫 outperformed ZCAT by 9.7% — measured on the 棱角猫/ZCAT ratio, so it holds regardless of market direction.