cat in a dogs world (MEW) is 1280.0× the size of Bobuki Neko (BOBUKI) by market capitalisation. Their daily returns move loosely together (correlation 0.55 across 29 shared trading days). BOBUKI has been the more volatile of the two, at 144% annualised against MEW's 100%.
BOBUKIMEW
0.55over 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 | BOBUKI | MEW |
|---|---|---|
| Max drawdown (400d) | -73.1% | -31.7% |
| Risk-adjusted return (90d) | 0.16 | -0.17 |
Relative strength over 90 days: BOBUKI outperformed MEW by 4.1% — measured on the BOBUKI/MEW ratio, so it holds regardless of market direction.