Anonymous Cat (ZCAT) is 1351.6× the size of Bitcoin Cat (SASHA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.02 across 20 shared trading days). SASHA has been the more volatile of the two, at 932% annualised against ZCAT's 287%.
SASHAZCAT
-0.02over 20 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 | SASHA | ZCAT |
|---|---|---|
| Max drawdown (400d) | -22.0% | -69.4% |
| Risk-adjusted return (90d) | — | -0.21 |
Relative strength over 90 days: SASHA outperformed ZCAT by 385.7% — measured on the SASHA/ZCAT ratio, so it holds regardless of market direction.