Anonymous Cat (ZCAT) is 4.6× the size of BabyCashCat (BABY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.09 across 24 shared trading days). BABY has been the more volatile of the two, at 1513% annualised against ZCAT's 307%.
BABYZCAT
-0.09over 24 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 | BABY | ZCAT |
|---|---|---|
| Max drawdown (400d) | -83.6% | -55.7% |
| Risk-adjusted return (90d) | -0.03 | -0.06 |
Relative strength over 90 days: ZCAT outperformed BABY by 54.3% — measured on the BABY/ZCAT ratio, so it holds regardless of market direction.