Pudgy Penguins (PENGU) is 29.1× the size of Banana Gun (BANANA) by market capitalisation. Over the past 1 year, PENGU is ahead by 16.4 percentage points (BANANA -70.5% against PENGU -54.1%). Their daily returns move closely together (correlation 0.62 across 399 shared trading days). PENGU has been the more volatile of the two, at 104% annualised against BANANA's 90%.
BANANAPENGU
0.62over 399 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 | BANANA | PENGU |
|---|---|---|
| Max drawdown (400d) | -87.0% | -82.4% |
| Risk-adjusted return (90d) | -0.19 | 0.13 |
| Best 30 days (past year) | +43.1% | +74.9% |
| Worst 30 days (past year) | -47.4% | -55.1% |
Relative strength over 90 days: PENGU outperformed BANANA by 20.9% — measured on the BANANA/PENGU ratio, so it holds regardless of market direction.