Pump.fun (PUMP) is 38605.3× the size of Airdrops Quest (DROP) by market capitalisation. Their daily returns move barely together (correlation 0.32 across 138 shared trading days). DROP has been the more volatile of the two, at 170% annualised against PUMP's 127%.
DROPPUMP
0.32over 138 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 | DROP | PUMP |
|---|---|---|
| Max drawdown (400d) | -97.1% | -83.1% |
| Risk-adjusted return (90d) | -0.48 | 0.55 |
| Best 30 days (past year) | — | +185.0% |
| Worst 30 days (past year) | — | -43.2% |
Relative strength over 90 days: PUMP outperformed DROP by 97.9% — measured on the DROP/PUMP ratio, so it holds regardless of market direction.