PepeCoin (PEPECOIN) is 241.9× the size of Alaska Gold Rush (CARAT) by market capitalisation. Over the past 1 year, CARAT is ahead by 12.3 percentage points (CARAT -87.7% against PEPECOIN -100.0%). Their daily returns move barely in opposite directions (correlation -0.01 across 369 shared trading days). Both have run at a similar volatility, around 164% annualised.
CARATPEPECOIN
-0.01over 369 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 | CARAT | PEPECOIN |
|---|---|---|
| Max drawdown (400d) | -91.7% | -100.0% |
| Risk-adjusted return (90d) | -0.55 | -0.37 |
| Best 30 days (past year) | +100.4% | +199.3% |
| Worst 30 days (past year) | -61.1% | -100.0% |
Relative strength over 90 days: CARAT outperformed PEPECOIN by 687629.3% — measured on the CARAT/PEPECOIN ratio, so it holds regardless of market direction.