Ape and Pepe (APEPE) is 5042.2× the size of Baby Pepe (BABYPEPE) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 30 shared trading days). APEPE has been the more volatile of the two, at 92% annualised against BABYPEPE's 62%.
BABYPEPEAPEPE
0.08over 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 | BABYPEPE | APEPE |
|---|---|---|
| Max drawdown (400d) | -40.6% | -24.0% |
| Risk-adjusted return (90d) | -0.29 | 0.31 |
Relative strength over 90 days: APEPE outperformed BABYPEPE by 15.4% — measured on the BABYPEPE/APEPE ratio, so it holds regardless of market direction.