Pepe (PEPE) is 118395.7× the size of America1776 (AMERICA) by market capitalisation. Their daily returns move loosely together (correlation 0.51 across 139 shared trading days). AMERICA has been the more volatile of the two, at 171% annualised against PEPE's 102%.
AMERICAPEPE
0.51over 139 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 | AMERICA | PEPE |
|---|---|---|
| Max drawdown (400d) | -70.5% | -77.2% |
| Risk-adjusted return (90d) | 0.16 | 0.65 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: AMERICA outperformed PEPE by 21.2% — measured on the AMERICA/PEPE ratio, so it holds regardless of market direction.