Purr (PURR) is 8.7× the size of Basecat (BASECAT) by market capitalisation. Over the past 30 days, PURR is ahead by 77.1 percentage points (BASECAT -78.4% against PURR -1.3%). Their daily returns move barely together (correlation 0.16 across 45 shared trading days). BASECAT has been the more volatile of the two, at 885% annualised against PURR's 223%.
BASECATPURR
0.16over 45 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 | BASECAT | PURR |
|---|---|---|
| Max drawdown (400d) | -89.2% | -43.9% |
| Risk-adjusted return (90d) | -0.05 | 0.07 |
Relative strength over 90 days: PURR outperformed BASECAT by 22.5% — measured on the BASECAT/PURR ratio, so it holds regardless of market direction.