Degen (DEGEN) is 869.5× the size of Base Pro Shops (BPS) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 29 shared trading days). BPS has been the more volatile of the two, at 152% annualised against DEGEN's 79%.
BPSDEGEN
0.30over 29 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 | BPS | DEGEN |
|---|---|---|
| Max drawdown (400d) | -67.9% | -29.2% |
| Risk-adjusted return (90d) | -0.10 | -0.28 |
Relative strength over 90 days: DEGEN outperformed BPS by 20.1% — measured on the BPS/DEGEN ratio, so it holds regardless of market direction.