Ape and Pepe (APEPE) is 8755.0× the size of Andy Alter Ego (BADCAT) by market capitalisation. Their daily returns move barely together (correlation 0.27 across 30 shared trading days). BADCAT has been the more volatile of the two, at 140% annualised against APEPE's 91%.
BADCATAPEPE
0.27over 30 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 | BADCAT | APEPE |
|---|---|---|
| Max drawdown (400d) | -67.7% | -24.0% |
| Risk-adjusted return (90d) | -0.42 | 0.31 |
Relative strength over 90 days: APEPE outperformed BADCAT by 11.8% — measured on the BADCAT/APEPE ratio, so it holds regardless of market direction.